MedHoldings, Inc. recently acquired an assisted living facility near Atlanta, Ga. through an affiliate for $6.6 million.
The Carlton, formerly known as Summer’s Landing Mt. Vernon, is an assisted living and memory care community which follows Jewish traditions, including kosher food service, one of just a few assisted living communities in the United States to do so.
The community has 66 units and is licensed for 74 beds; its memory care unit is called “The Terrace” and has a specialized program for Alzheimer’s and other memory care conditions. At time of sale, it had a 91% occupancy rate.
The 55,400-square-foot building is located in Sandy Springs, Ga., next to Congregation B’nai Torah on Mt. Vernon Highway. It will be leased to Insignia Living of Georgia, LLC.
“We are excited to continue our growth throughout the state of Georgia and to bring to new communities safe and joyful environments,” said Milton L. Cruz, Esq., president of MedHoldings, in a statement. “This is our sixth retirement community in the state of Georgia, and our seventeenth in the Southeastern United States and Puerto Rico.”
Written by Alyssa Gerace