Centric, Sage Offload Five Atlanta Sr. Housing Communities
Centric Development and Sage Equities traded five senior housing communities in Atlanta for $147 million. The buyer was not disclosed. The buyer is retaining the incumbent operator, Claiborne Senior Living, to manage the communities.
The portfolio consists of 611 units and 701 beds of assisted living and memory care developed by Centric Development between 2018 and 2022. Floorplans include companions, studios, one-bedrooms and two-bedrooms. Community amenities include restaurant-style dining, private dining, movie theaters, bistros & bars, art studios, game rooms and landscaped courtyards with fountains.
JLL’s National Seniors Housing Capital Markets team was led by Jay Wagner, Rick Swartz, Aaron Rosenzweig, Tim Hosmer and Erik Von Hamm, with assistance from Anthony Fertitta, Joel Mendes and Peter Yorck.
“This portfolio offered a unique opportunity to acquire five high-quality and recently constructed properties below replacement cost in affluent Atlanta submarkets,” said Wagner.
Other News
Lewis Group Opens Second NorCal Rental-Home Community in West Sacramento
Independence in West Sacramento, a new gated community of 208 townhome-style rental homes developed by Lewis Apartments, opened its leasing office and model homes to the public on Saturday, Oct. 24. Located in West Sacramento’s Southport/Bridgeway Island area, Independence introduces rental homes designed for residents who want the space and privacy of a single-family home...
Learn more
CBRE Arranges Sale of Future Mixed-Use Development in Wisconsin
CBRE announced the sale of a 4.66-acre parcel at the northwest corner of County Highway MM and U.S. Highway 14 in Fitchburg, Wisconsin. Louisville, Kentucky-based Trilogy Real Estate Fitchburg LLC purchased the property from Fairchild Development LLC for $2.23 million, marking the company’s third location in the Madison market and expanding its footprint beyond its...
Learn more
Northmarq Arranges $96M Refi on SoCal Apartment Portfolio
Northmarq has arranged $95.8 million in refinancing for a six-property, 1,461-unit multifamily portfolio owned and operated by E&S Ring across Los Angeles and San Bernardino Counties. The financing was arranged through Voya Investment Management by Northmarq’s San Francisco Debt + Equity team, led by managing director Nathan Prouty, SVP Andrew Slaton and senior investment anaylst...
Learn more
Brokers
View All-
Remax Real Estate Professionals
Re/Max Real Estate Professionals
-
Jared Ennis
Central CA Commercial | California
-
Rick Recckio
Recckio Real Estate & Development
-
Greg Corbin
Northgate Real Estate Group
Lenders
View AllManagement
View All-
Essex Property Trust, Inc.
California
-
Josh A
California
-
Bob Tuteur
-
Andrew Schildcrout