After an owner/operator and a group of investors bought a 24-unit hospice facility in Georgetown, South Carolina from a local hospital, then gutted, expanded and converted it to a two-story, 62-unit assisted living/memory care community, the group decided to sell before opening day. There are now all studio units ranging from 255 to 471 square feet, split between 44 assisted living and 18 memory care units.
Patrick Burke, Bradley Clousing and Dan Geraghty of Senior Living Investment Brokerage marketed the property, which received a certificate of occupancy and Department of Health and Environmental Control (DHEC) construction approval prior to the sale. A regional operator with a current footprint in South Carolina stepped in to purchase the property for an undisclosed price. They will procure FF&E and will move forward with the DHEC licensure approval.
