Healthcare Trust Buys 5 Senior Living Properties for $85.8 Million

New York-based American Realty Capital Healthcare Trust recently acquired a 5-property portfolio of senior living communities in Georgia and Florida from Principal Senior Living Group for $85,750,000.

The Alpharetta, Ga.-based seller, represented by Senior Capital Advisors, will continue to manage the properties under a 5-year management agreement.

The 369-unit, 448-bed portfolio of independent living villas and assisted living and memory care communities includes the following properties: 

  • Benton House of Newnan in Ga. (64 units/80 beds, built in 2010)
  • Benton House of Douglasville in Ga. (59 units/72 beds, built in 2010)
  • Benton House of Sugar Hill in Ga. (59 units/72 beds, built in 2010)
  • Benton Village of Stockbridge in Ga. (108 units/144 beds, built in 1997/2008)
  • Benton Village of Palm Coast in Fla. (79 units/80 beds, built in 2008)

The properties had an average occupancy rate of 93% at time of sale.

“Senior Capital Advisors had been in strategic discussions with PSLG regarding the timing of this sale for more than a year prior to the start of marketing,” says Bruce Gibson, principal at Senior Capital Advisors. “We struck the perfect combination of occupancy, property performance and capitalization rates to maximize value for PSLG.”

Written by Alyssa Gerace 


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