Senior Living Investment Brokerage handled the sale of a seniors housing community in Dallas, Georgia. The seller was the existing lender that had foreclosed on the asset. Built in 2013, the community comprises 88 assisted living and memory care units, totaling 66,961 square feet across 3.88 acres. It was 65% occupied at the time of sale, and the community’s profitability could be improved.
The buyer was a joint venture between a regional operator and an institutional capital partner. The asset fits its footprint and expertise, and the partnership intends on making a significant renovation and rebranding of the operation to reposition and stabilize the community. Bradley Clousing and Daniel Geraghty of SLIB handled the transaction on behalf of the seller.
