Southeast Assisted Living Portfolio Sells for $143M

  

Arbor Terrace of Athens, GA

Allen McMurtry

TAMPA, FL – Cassidy Turley, a leading commercial real estate services provider in the U.S., announces that Executive Managing Director Allen McMurtry has arranged the $143 million sale of a nine-property Assisted Living portfolio in the Southeast.

The portfolio includes eight existing Assisted Living communities located in Florida (3), Georgia (3), North Carolina and Tennessee, plus one development parcel located in Decatur, GA.  Properties in the portfolio on average are 15 years old, and it includes 640 units comprised of 453 Assisted Living units and 187 Memory Care units.

Mr. McMurtry represented an institutional investor in its disposition of the portfolio. The in-place manager will be retained by the purchaser, American Realty Capital (ARC).  The portfolio is approximately 93% occupied. Properties in the portfolio include:

Barrington Terrace Apartments, Fort Meyers, FL

Arbor Terrace of Athens, Arbor Terrace at Cascade and Arbor Terrace of Decatur in Georgia

• Barrington Terrace of Fort Myers, Arbor Terrace of Largo and Barrington Terrace of Naples in Florida
• Arbor Terrace of Knoxville in Tennessee
• Arbor Terrace of Asheville in North Carolina

Cassidy Turley’s Tampa Senior Housing team has sold 148 Senior Housing communities in 29 states with an aggregate sales volume of $1.8 billion.

For a complete copy of the company’s news release, please contact:

Bailey Webb                                                           

Corporate Public Relations Director                                          

404-682-3381                                    

Bailey.Webb@cassidyturley.com   

www.cassidyturley.com