CBRE National Senior Housing’s team consisting of Aron Will, John L. Sweeny, Jr., Garrett Sacco and Scott Bray completed the sale and acquisition financing for a fully occupied assisted living/memory care community in Augusta, Georgia. Built in 2019, Thrive at Augusta comprises 85 units on 17 acres and despite opening just before the pandemic, it did indeed reach 100% occupancy by the time of the transaction. It caters to a high-income population and features a number of high-end amenities.
New York City-based Drake Real Estate Partners ultimately sold the property to Inspired Healthcare Capital. Aron Will and Adam Mincberg of CBRE also arranged a five-year, fixed-rate $16.8 million loan from a national life insurance company with 36 months of interest only for this transaction. According to Levin Pro LTC, Inspired Healthcare Capital acquired two assisted living communities in Largo and Dunedin, Florida just last month. And last year, in a joint venture with Drake Real Estate Partners and Venue Capital, Inspired also purchased Brookdale Citrus in Lecanto, Florida, from Welltower for an undisclosed price.
