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KNOXVILLE and POWELL, Tenn. — Senior Living Investment Brokerage (SLIB) has negotiated the sale of two seniors housing communities, one in Knoxville and one in nearby Powell.
The communities feature a combined 102 assisted living and memory care units.
The seller is a private REIT that had partnered with a national operator. These two assets were outliers for the operator, which led to the sale. The buyer is a joint venture between a real estate/asset management firm and an operator that already had a footprint within Tennessee. The price was not disclosed.
Bradley Clousing and Patrick Burke handled the transaction for SLIB.