ATLANTA — JLL Capital Markets has brokered the $147 million sale of a seniors housing portfolio totaling five communities in submarkets north of Atlanta. An institutional investor acquired the properties in an all-cash transaction.
A joint venture between Centric Development and Sage Equities sold the portfolio. Claiborne Senior Living will continue to operate the communities on behalf of the new ownership.
The portfolio comprises 611 assisted living and memory care units, with 701 beds. Centric Development developed the properties between 2018 and 2022. Amenities at the communities include theaters, restaurant-style dining, bistros, bars, art studios, game rooms and landscaped courtyards.
Jay Wagner, Rick Swartz, Aaron Rosenzweig, Tim Hosmer, Erik Von Hamm, Anthony Fertitta, Joel Mendes and Peter Yorck of JLL arranged the transaction on behalf of the seller.
“This portfolio offered a unique opportunity to acquire five high-quality and recently constructed properties below replacement cost in affluent Atlanta submarkets,” says Wagner. “We generated significant investor interest across REITs, private equity groups and senior living operators. Investors were highly interested in the opportunity to gain immediate scale in a target market.”