Two Senior Living Investment Brokerage teams facilitated an owner’s exit of the senior care industry with the sale of two assisted living communities in Georgia to two different buyers. First, the local owner/operator sold its small community in Cartersville, northeast of Atlanta.
Built during the last assisted living construction boom in the early-2000s, the 25-unit community was renovated in 2015. Since then, it has remained well occupied exceeding 90%. A Northeast-based owner/operator looking to expand its portfolio in the Peach State paid an undisclosed sum for the community.
The other transaction saw a 58-unit community in Dalton (northeast corner of Georgia) sell to an owner/operator based in the Southeast, again for an unknown price. Set on seven acres, the property consists of two buildings built in 2013 and 2016, respectively, with a total of 34 assisted living and 24 memory care units. Occupancy was also consistently strong around 95%.
This is the buyer’s first acquisition in Georgia, so that existing operating strength should make it a smooth entry. Messrs. Geraghty and Clousing represented the seller in the transaction, starting the marketing process and negotiated the letter of intent before the onset of COVID.
