ELLIJAY, Ga. — Senior Living Investment Brokerage has arranged the sale of Parkside Ellijay, a 100-bed skilled nursing facility in the North Georgia Mountains city of Ellijay.
Sunlink Health Systems sold the 70,479-square-foot community as part of a plan to redeploy capital into its core business strategies. A private group based in the Northeast looking to expand in the area acquired the property for $7.3 million.
The facility is located adjacent to the former Gilmer County Hospital, and was able to take over part of the closed property during a recent expansion. The project added resident rooms, a senior day care area, administrative offices and outpatient rehabilitation areas.
Parkside was 93 percent occupied at the time of sale. The price equates to $73,000 per bed and a 13.1 percent capitalization rate.
Daniel Geraghty and Bradley Clousing of Senior Living Investment Brokerage handled the transaction.