DALLAS, Texas, and CLEVELAND, Ga. — 1031 Crowdfunding has acquired a 137-bed, 109-unit assisted living and memory care portfolio. The two properties, located in Dallas and Cleveland, were 95.6 percent occupied at the time of sale. Iris Senior Living and Over the Top Management will operate the two properties, known as Iris Memory Care and Laurel Lodge.
BALTIMORE — Capital Funding Group (CFG), a Baltimore-based lender, has arranged a $135 million bridge loan for the refinancing and dividend recapitalization of a skilled nursing portfolio. The portfolio features nine facilities and 1,448 beds across Maryland, Georgia and West Virginia. The borrower is an industry-leading owner of skilled nursing facilities. CFG’s Tim Eberhardt and Ava Julio originated the transaction for the company. Further details were not disclosed.
CUMMING, Ga. — Green Brick Partners Inc., a homebuilding and land development firm, has purchased 152 acres in the Atlanta suburb of Cumming. The Plano, Texas-based company plans to develop a mixed-use campus valued at $400 million at the site named Sawnee Village. The development will include 474 detached and attached homes built by Atlanta-based Providence Group, as well as more than 250 apartments, 220,000 square feet of seniors housing, and office and retail space spanning 106,000 square feet. The master-planned campus will be situated near Ga. Highway 400 and …
CARTERSVILLE and CALHOUN, Ga. — Senior Living Investment Brokerage (SLIB) has arranged the sale of two assisted living and memory care communities in Cartersville and Calhoun, located between Atlanta and Chattanooga, Tenn. The communities, both branded as The Fountains, total 127 units. The seller is a private owner-operator exiting the business. The buyer is a partnership between a private REIT and a regional operator. The price was not disclosed. Bradley Clousing and Daniel Geraghty of SLIB handled the transaction.
VININGS, Ga. — Charter Senior Living has taken over operations at The Social at Vinings, a seniors housing community in the first-ring Atlanta suburb of Vinings. The new operator has changed the name of the community to Charter Senior Living of Vinings. The change in management will increase the portfolio of Charter Senior Living retirement communities to more than 40 throughout the United States.
LEESBURG and COLUMBUS, Ga. — Senior Living Investment Brokerage (SLIB) has negotiated the sale of two Oaks Senior Living communities in the Middle Georgia municipalities of Leesburg and Columbus. The properties feature 154 units of assisted living and memory care. Oaks Senior Living, which will stay on as operator, sold the assets to a 1031 exchange fund. The price was not disclosed. Bradley Clousing and Daniel Geraghty of SLIB handled the transaction.
COLUMBUS and LEESBURG, Ga. — 1031 Crowdfunding has acquired a 154-unit assisted living and memory care portfolio located in Middle Georgia. The price and seller were not disclosed. The two properties are located in Columbus, along the Alabama border in Western Georgia, and Leesburg, approximately 75 miles southeast of Columbus. Completed in 2018 and 2019, Oaks at Oakland Plantation and Oaks at Grove Park include two buildings over 16 acres with six hospitals within a 25-mile radius of the locations. The acquisitions were made through the buyer’s affiliate 1031 CF …
BONITA SPRINGS, Fla. — Discovery Senior Living and National Health Investors (NYSE: NHI) have formed a joint venture to acquire and rebrand nine former Holiday Retirement communities. The properties are located in Arkansas, Georgia, Ohio, Oklahoma, New Jersey and South Carolina and total 1,094 units. Discovery Senior Living and its subsidiary management companies have taken over operations. Additionally, Discovery will assume operations of Isles of Vero Beach, a 230-unit assisted living community in Vero Beach, Florida, through Discovery and NHI’s existing joint venture. That property will be renamed Discovery Village …
MOULTRIE, Ga. — Blueprint Healthcare Real Estate Advisors has negotiated the sale of Cobblestone Rehabilitation & Healthcare Center, a 59-bed skilled nursing facility in the Southwest Georgia city of Moultrie. The seller was a New York-based investment firm, and the operator recently filed for bankruptcy. The buyer was local community-based teaching hospital Colquitt Regional Medical Center. The price was not disclosed. “Acquiring Cobblestone will allow us to expand our continuum of care and provide additional services to our patients and this community,” says Jim Matney, Colquitt’s president and CEO. “It …
PEACHTREE CITY, KENNESAW and MARIETTA, Ga. — Alabama-based Atlas Senior Living has acquired three assisted living and memory care communities, all located in the greater Atlanta area. The properties include Legacy Ridge at Brookstone in Kennesaw, Legacy Ridge at Peachtree in Peachtree City, and Legacy Ridge at Sandy Plains in Marietta Atlas will replace the current operator, Heritage Senior Living, effective April 1. The acquisitions bring Atlas’ total number of properties to 35, with 10 in Georgia.