ATLANTA—Renaissance on Peachtree has a new owner. The 15-story, 228-unit independent and assisted living community in Atlanta’s Buckhead market sold for an undisclosed amount.
Senior Capital Advisors represented the seller, Retirement Corporation of America Partners. The firm also secured the buyer, a joint venture between Formation Development Group and an affiliate of The Carlyle Group.
“This deal is very much in line with other large single asset transactions from the standpoint of it being a value-add play,” Bruce Gibson, principal of Senior Capital Advisors, tells GlobeSt.com. The buyers are planning a $7 million renovation of the common areas and residential units.
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