TAMPA - 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, with three properties located in Florida, three in Georgia, one in North Carolina and one in Tennessee, plus one development parcel located in Decatur, GA. Properties in the portfolio on average are 15 years old, and the portfolio 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:
- 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.
About Cassidy Turley
Cassidy Turley is a leading commercial real estate services provider with more than 3,800 professionals in more than 60 offices nationwide. With headquarters in Washington, DC, the company represents a wide range of clients—from small businesses to Fortune 500 companies, from local non-profits to major institutions. The firm completed transactions valued at $22 billion in 2012, manages approximately 400 million square feet on behalf of institutional, corporate and private clients and supports more than 23,000 domestic corporate services locations. Cassidy Turley serves owners, investors and tenants with a full spectrum of integrated commercial real estate services—including capital markets, tenant representation, corporate services, project leasing, property management, project and development services, and research and consulting. Cassidy Turley enhances its global service delivery outside North America through a partnership with GVA, giving clients access to commercial real estate professionals in 65 international markets. Please visit www.cassidyturley.com for more information about Cassidy Turley.