A senior living community in Dahlonega, Georgia that managed to stay fully occupied throughout the pandemic found a new owner thanks to Brad Clousing and Daniel Geraghty of Senior Living Investment Brokerage. Consisting of 58 assisted living and 14 memory care units, the community was completed in September 2019 with high-end finishes and amenities. Because lease-up went so well (six months to a waitlist is pretty darn good), there is also the opportunity to expand, with 20 shovel-ready units to add on a rough graded pad with stubbed utilities.
The seller was a local owner/operator who was looking to divest the community and exit the industry altogether. A not-for-profit owner/operator based in the Southeast and looking to expand its portfolio emerged from multiple competitive offers from both national and regional groups to acquire the property, utilizing a tax-exempt bond financing to fund the deal. No purchase price was disclosed.
