A joint venture between Centric Development and Sage Equities sold five class A senior housing communities in northern Atlanta submarkets to an experienced public-traded institutional investor in an all-cash transaction. The properties sold for a total of $147 million.
The portfolio consists of 611 units and 701 beds of assisted living and memory care developed by Centric Development between 2018 and 2022. The properties offer amenities that reflect current market preferences and lifestyle demands. Units feature kitchenettes with granite countertops, stainless-steel appliances, 10-foot ceilings, hardwood-like flooring and full-sized closets across a variety of floor plans including companions, studios, and one- and two-bedrooms. Community amenities include restaurant-style dining, private dining, movie theaters, bistros and bars, art studios, game rooms and landscaped courtyards with fountains.
JLL’s National Seniors Housing Capital Markets team represented the selle
