WOODSTOCK, Ga. — Senior Living Investment Brokerage has arranged the sale of Insignia of Towne Lake, a 33-unit assisted living community in the Atlanta suburb of Woodstock.
A Florida-based owner-operator acquired the asset for $2.9 million. The new owner plans to add memory care to the community. The transaction also included the assumption of a $2.6 million HUD loan.
Built in 1996, the property was 94 percent occupied at the time of sale. The undisclosed seller was looking to remove operational outliers from its portfolio.
Bradley Clousing and Patrick Byrne of Senior Living Investment Brokerage handled the transaction.
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