SLIB Arranges $16.5M Sale of Three-Property Portfolio in Alabama

by Jeff Shaw

AUBURN, Ala. — Senior Living Investment Brokerage (SLIB), a broker based in Illinois, has arranged the $16.5 million sale of a three-property seniors housing portfolio in Auburn, approximately 55 miles northeast of Montgomery.

SLIB represented the seller, East Alabama Medical Center, in the transaction. The buyer is a joint venture of Alabama-based operator Dominion and national equity investor Harrison Street.

The portfolio includes the 72-unit Azalea Place, the 58-unit Camellia Place and the 53-unit Magnolia Place. The communities include a total of 84 specialty-care assisted living facility (SCALF) beds, which offer a memory care component and are difficult to acquire in Alabama, according to SLIB.

Bradley Clousing and Jeff Binder led the SLIB team.

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