HOLLY SPRINGS, Miss., COMMERCE, Ga., and STAUNTON, Va. — Senior Living Investment Brokerage (SLIB) has arranged the sale of four seniors housing communities throughout the Southeast.
Brad Clousing led the SLIB teams in three separate transactions.
In the first transaction, SLIB arranged the sale of Bountiful Hills, a Personal Care Home, located northeast of Atlanta in Commerce. An owner-operator from the Northeast acquired the 34-unit property from a local owner-operator for $3.3 million. The asset was recently renovated and sold for just under $100,000 per unit.
In the second transaction, SLIB arranged the sale Christopher’s Personal Care Home, located in Holly Springs. The 38-unit community is historically well-occupied and benefited from limited competition in the market. A regional owner-operator acquired the property from a local owner for $2.8 million.
In the final transaction, SLIB facilitated the sale of two assisted living communities, Birch Gardens and Royal Care Senior Living, in Staunton for $5 million. The communities total 55 units and are located less than one mile from one another, which allowed for operational efficiencies. Avante sold the communities to a New York-based owner-operator.