BWE Investment Sales handled the divestment of a seniors housing community in the Atlanta, Georgia MSA. Built in 2017, The Crossings at Webb Bridge Road is in Alpharetta and comprises 50 memory care units. The community sits on a 3.4-acre plot. It was owned by a Midwest-based alternative investment firm.
At the time of the deal, the community was not in operation, and the new owner will renovate the property and convert it for behavioral health use. Details surrounding the seller, buyer and purchase price were not disclosed.
The transaction was handled by Charley Bissell, Senior Vice President for BWE Investment Sales. This closing marks the sixth community sold by Bissell over the past 18 months on behalf of the same seller. Previous transactions included properties in Flower Mound, San Antonio and Missouri City, Texas, Naples, Florida, and Stockbridge, Georgia. Of those six sold, two went to the same buyer, while the other four went to different buyers.
