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CLEVELAND, Ga. — Senior Living Investment Brokerage (SLIB) has arranged the sale of Laurel Lodge Assisted Living and Memory Care, a 72-unit community in Cleveland, approximately 75 miles northeast of Atlanta.
The original building was 56 units which leased quickly throughout 2020 and has since maintained a waiting list for available units. During original construction the building was rough graded and stubbed for an additional 16-unit wing, which was completed in March 2022. The asset was fully occupied at closing.
The seller is an owner-operator that the buyer, a 1031 sponsor, engaged to continue operating the asset post-closing.
Bradley Clousing and Daniel Geraghty handled the transaction for SLIB.