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MEMPHIS, Tenn. — Senior Living Investment Brokerage (SLIB) has arranged the sale of Tranquility at Hickory Hill, a 150-unit active adult community in Memphis.
The property offers the opportunity to rebuild 10 units that were previously damaged by fire. The community was originally built in 1985, totaling 161,990 square feet on a 13-acre plot.
A regional owner sold the asset to a Southern California-based multifamily group looking to increase its footprint in active adult. The price was not disclosed.
Jason Punzel, Brad Goodsell and Vince Viverito of SLIB handled the transaction.