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MADISON, Ala. — Senior Living Investment Brokerage (SLIB) has arranged the sale of an assisted living and memory care community in Madison, a suburb of Huntsville.
A local ownership group of physicians that originally developed the asset was the seller. The building was not fully stabilized with respect to rental rates or expenses, but was near full occupancy at the close of escrow according to SLIB.
The buyer, an Alabama-based owner-operator, plans to stabilize the asset and hold it over the long term.
Brad Clousing and Daniel Geraghty led the transaction for SLIB. Further details were not disclosed.