HFF used all of their Southeast expertise to sell an assisted living portfolio located in Georgia (3), Florida and South Carolina. The communities were previously owned by Principal Senior Living Group (PSLG) and operated under the Benton House brand. They were built between 2014 and 2018 and featured strong occupancy, except for the brand-new South Carolina community that was still in lease-up. Close to a third of the 326 units were reserved for memory care residents.
Bridge Investment Group paid approximately $79 million, or over $240,000 per unit, for the portfolio, which will continue to operate under the Benton House brand. Ross Sanders and David Fasano along with senior managing directors Ryan Maconachy and Chad Lavender of HFF represented PSLG in the transaction.
