Atlas Senior Living is growing its southeast portfolio with the acquisition of The Claiborne at Adelaide in Starkville, Mississippi. Opened in 2016 with 82 units of independent living, assisted living and memory care, the community was 96% occupied at the time of the sale. It was last acquired in 2018 by the multifamily real estate investment firm Waypoint Residential, which was Waypoint’s first acquisition of an existing seniors housing community. That came at a price of $22.7 million, or $276,800 per unit.
The current purchase price was not disclosed, although Atlas assumed the existing Freddie Mac debt on the property, and Newmark represented Waypoint in the transaction. Atlas now counts 38 locations in its portfolio, which are spread across eight states in the southeast. The Claiborne at Adelaide, which will be renamed The Goldton at Adelaide, is Atlas’s first Mississippi community.
