Senior Living Investment Brokerage facilitated the sale of a personal care community in a highly desirable market in Forsyth County, Georgia. SLIB was engaged to solicit bids on behalf of the court-appointed receiver, GGG Partners.
Built in 1997, Country Gardens Lanier features 41 assisted living units in Cumming. The community comprises 22,945 square feet and is situated on 1.85 acres. Occupancy was 71% at the time of closing, and it was operating just above breakeven.
The buyer is a regional owner/operator that operates another asset within the county, which can help with expense efficiencies. The buyer purchased the community because it is looking to expand its growing footprint throughout the Southeast. Daniel Geraghty and Bradley Clousing handled the transaction.
