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Senior Living Portfolio Trades Hands for $113M

ROSWELL, GA-Principal Senior Living Group sells eight senior housing properties in Florida, Georgia, Tennessee and South Carolina.

By Natalie Keith | Updated on November 20, 2007

(Read more on the multifamily market.)

ROSWELL, GA-Locally based Principal Senior Living Group has sold an eight-property senior living housing portfolio to Brisbane, Australia-based FKP Ltd. for $113 million. The portfolio, built between 1996 and 2007, contains 522 units and includes a unit mix of 16% independent living, 59% assisted living and 25% memory care.

The properties in the portfolio include the 115-unit Southern Pines Village, Gardens & Inn in Thomasville, GA; the 58-unit Benton House in Fort Walton Beach, FL; the 32-unit Beacon Pointe in Tampa, FL; the 42-unit Benton House in Sun City Center, FL; the 61-unit Benton Village in Panama City Beach, FL; the 81-unit Benton House & Beacon Pointe in Franklin, TN; the 71-unit Benton Village in Hermitage, TN and the 62-unit Benton Village in Seneca, SC.

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