Greystone facilitates Pacifica’s Georgia exit

Pacifica Companies is exiting the Georgia market with the sale of its two assisted living/memory care communities in the Atlanta metro area. The portfolio, which includes a 58-unit community with 36 assisted living units and 22 memory care units in Dunwoody, Georgia, and a 32-unit stand-alone memory care community in Roswell, Georgia, was approximately 75% occupied and was not a strategic fit for Pacifica. The buyer, a publicly-traded REIT, paid $10.8 million, or $120,000 per unit, and will bring on a local operator to manage. Mike Garbers of Greystone Real Estate Advisors led the sale.