The Senior Living Investment Brokerage team of Brad Clousing and Dan Geraghty closed the sale of an assisted living community in Milton, Georgia, that was in the middle of lease-up when the pandemic hit last Spring. Featuring 94 units and 124 beds, including 77 assisted living and 17 memory care units, the community opened in 2017 at a time when there was a lot of competition north of Atlanta. It had not reached stabilization by the time COVID-19 and economic lockdowns further challenged the effort. The local developer/operator had reached their investment horizon and chose to sell the community to a Tennessee-based operator looking to expand their presence in the Southeast. The purchase price was not disclosed.
SLIB Closes Sale of AL Community in Georgia
