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TUPELO, Miss. — Senior Living Investment Brokerage (SLIB) has negotiated the sale of Avonlea Assisted Living, a 68-unit property in Tupelo.
The community was built in 1999 and renovated in 2005.
The seller is a publicly traded REIT. The buyer is a regional owner-operator based in Mississippi, that intends to renovate the asset and make significant upgrades to improve occupancy, revenue and overall bottom-line performance. The price was not disclosed.
Bradley Clousing and Daniel Geraghty of SLIB handled the transaction.