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AcquisitionsAssisted LivingGeorgiaNews

CBRE Arranges Sale of 85-Unit Thrive at Augusta in Georgia

by Jeff Shaw

AUGUSTA, Ga. — CBRE National Senior Housing has arranged the sale of Thrive at Augusta, a Class A assisted living and memory care community. Located in the heart of Augusta, the 85-unit community was built in 2019 and was fully occupied at the time of sale. Drake Real Estate Partners sold the asset to Inspired Healthcare Capital. While the price was not disclosed, CBRE also arranged $16.8 million in acquisition financing for the buyer. CBRE National Senior Housing’s investment sales team members Aron Will, John Sweeny Jr., Garrett Sacco and …

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Assisted LivingFinanceGeorgiaNews

Marcus & Millichap Arranges $8.3M Refinancing for Brookside Commerce in Georgia

by Jeff Shaw

COMMERCE, Ga. — Marcus & Millichap Capital Corp. (MMCC) has arranged an $8.3 million loan for the refinancing of Brookside Commerce, an assisted living facility in Commerce, approximately 70 miles northwest of Atlanta. The 62-bed community includes 12 independent living units. It is 3.5 miles from Northridge Medical Center, a full-service community hospital. Robert Bhat, based out of the MMCC Miami office, led the transaction. “Brookside Commerce was acquired in September 2019,” says Bhat. “We were able to secure a 35-year HUD loan to refinance the asset and provide cash …

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Active AdultDevelopmentGeorgiaNews

Berkadia Arranges $47.8M Sale of Hardy Springs Built-to-Rent Active Adult Community in Dallas, Georgia

by Jeff Shaw

DALLAS, Ga. — Berkadia Institutional Solutions has arranged the sale of Hardy Springs, a 149-unit single-family, built-to-rent, active adult community located in the Atlanta suburb of Dallas. Russ Hardy of Berkadia Atlanta and Brooks Minford and Simona Wilson of Berkadia Seniors Housing & Healthcare completed the $47.8 million sale on behalf of the seller, Georgia-based Highlands Residential. The buyer was South Carolina-based Blaze Partners. Hardy Springs features one- and two-bedroom floor plans with walk-in closets, private garages and private patios or balconies. Community amenities include a clubhouse, fitness center and …

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DevelopmentGeorgiaNews

Galerie Living Receives Approval for 500-Unit Corso Druid Hills Development at Emory University in Atlanta

by Jeff Shaw

ATLANTA — Locally based Galerie Living has received approval from DeKalb County commissioners for its redevelopment of a portion of Emory University’s Briarcliff campus in Atlanta. Galerie Living will develop and operate a 500-unit seniors housing community that will be known as Corso Druid Hills. The community will feature independent living options such as cottages and apartments in one- and two-bedroom layouts, as well as assisted living and memory care units. Emory University entered into the lease agreement with Galerie earlier this year. More details on the project are scheduled …

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AcquisitionsGeorgiaNewsSkilled Nursing

Blueprint Negotiates Sale of 333-Bed Skilled Nursing Portfolio in Metro Atlanta

by Jeff Shaw

ATLANTA and MARIETTA, Ga. — Blueprint Healthcare Real Estate Advisors has arranged the sale of two skilled nursing facilities, one in the Buckhead neighborhood of Atlanta and another in the first-ring suburb of Marietta. The properties total 333 licensed beds, and are part of a larger portfolio sale with staggered closings. Both properties are near leading regional hospitals, among other referral sources. While labor challenges impacted the local market, the facilities maintained steadily improving census and revenue coming out of the pandemic, according to Blueprint. An East Coast-based investor and …

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AcquisitionsActive AdultGeorgiaNews

Blaze Capital Partners Acquires 149-Unit Hardy Springs Active Adult Community in Dallas, Georgia

by Jeff Shaw

DALLAS, Ga. — Blaze Capital Partners has acquired Hardy Springs, a 149-unit active adult community in Dallas, approximately 30 miles northwest of Atlanta. Hardy Springs is a cottage-style community with 149 units spread across 53 buildings. Completed in May 2022, the community is built on 31 acres of land and consists of one- and two-bedroom apartments. The property marks the firm’s first acquisition of an active adult community, but with several more planned. Blaze now owns six multifamily properties in Georgia, with a total unit count of more than 860. …

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Affordable HousingDevelopmentFinanceGeorgiaNews

Bellwether Enterprise Provides $23.9M HUD-Insured Loan for Rehab of Affordable Seniors Apartments in Atlanta

by Jeff Shaw

ATLANTA — Bellwether Enterprise Real Estate Capital LLC has provided a $23.9 million HUD 221(d)(4) loan to finance the rehabilitation of Jewish Tower and Zaban Tower, two affordable housing communities for seniors located at 3156 and 3160 Howell Mill Road in Atlanta. Jeff Mion of Bellwether’s Duluth, Ga., office originated the loan on behalf of the borrower, The Jewish Home Tower Inc. Following completion of rehabilitation, Bellwether will convert the interest-only construction period loan to a permanent loan at the same interest rate (3.99 percent) for a period of 40 …

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AcquisitionsActive AdultGeorgiaNews

Northland Acquires 210-Unit Emblem Active Adult Community in Alpharetta, Georgia

by Jeff Shaw

ALPHARETTA, Ga. — Northland, a private equity investor based in Newton, Mass., has purchased Emblem Alpharetta, a 210-unit active adult community in the north Atlanta suburb of Alpharetta. Situated on seven acres, the property was fully occupied at the time of sale and represents the fourth Georgia acquisition for Northland this year, but the first active adult acquisition in its portfolio. The seller and price were not disclosed. Emblem Alpharetta comprises one- and two-bedroom apartments in a four-story building that centers around a resort-style pool and sundeck. Units are reserved …

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AcquisitionsAssisted LivingGeorgiaNews

SLIB Negotiates Sale of 69-Unit Portfolio in Rural Georgia

by Jeff Shaw

BARNESVILLE and FORSYTH, Ga. — Senior Living Investment Brokerage (SLIB) has arranged the sale of two seniors housing communities totaling 69 units in Georgia. Sunny Grove Assisted Living, located in Barnesville, offers 34 units of assisted living and memory care on a 9.5-acre site. River Place Assisted Living, located in Forsyth, offers 35 units of assisted living and memory care on a 7.3-acre site. The neighboring cities are located approximately 60 miles south of Atlanta. The seller is a local owner-operator looking to exit the seniors housing industry. The buyer …

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AcquisitionsAssisted LivingGeorgiaNews

SLIB Negotiates Sale of 72-Unit Laurel Lodge in Cleveland, Georgia

by Jeff Shaw

CLEVELAND, Ga. — Senior Living Investment Brokerage (SLIB) has arranged the sale of Laurel Lodge Assisted Living and Memory Care, a 72-unit community in Cleveland, approximately 75 miles northeast of Atlanta. The original building was 56 units which leased quickly throughout 2020 and has since maintained a waiting list for available units. During original construction the building was rough graded and stubbed for an additional 16-unit wing, which was completed in March 2022. The asset was fully occupied at closing. The seller is an owner-operator that the buyer, a 1031 …

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