Senior Living Investment Brokerage closed its third transaction for Insignia Senior Living this year, marking Insignia’s exit from its United States-based senior living operations. This exit allows insignia to focus on core geographic markets in Puerto Rico and Latin America.
Built in 1996 and expanded in 2016, Tapestry House Assisted Living is a 94-unit assisted living community in Alpharetta, Georgia, that was built in two phases. The first phase was a 32-unit building. A pipe burst in December 2022 which resulted in flooding that damaged the building. The second phase was a 62-unit addition featuring apartments, physical therapy spaces and admin offices.
The buyer is looking to expand its skilled nursing and assisted living portfolio in Georgia. SLIB created a national, yet confidential market for this offering, in which there were multiple offers from both national and regional buyers. Daniel Geraghty and Bradley Clousing handled the transaction.
Additionally, Clousing and Geraghty facilitated the sale of a seniors housing community in Suwanee, Georgia. The community comprises 133 units of independent living, assisted living and memory care across 7.85 acres in the Atlanta MSA.
The seller was an institutional fund that purchased the asset as part of a portfolio transaction. The buyer is an age-restricted multi-family owner/operator that intends to reduce acuity and re-purpose the asset as age-restricted apartments. SLIB created a national, yet confidential market for this offering, which had multiple offers from both national and regional buyers.
