Atlanta Independent Living Portfolio Trades for $165M
Focus Senior Housing Fund I LP has acquired the class A, four-property portfolio, totaling 559 units.
ATLANTA, GA – The discretionary investment vehicle, Focus Senior Housing Fund I LP, managed by an affiliate of Focus Healthcare Partners LLC, has purchased a four-property, class A, independent living portfolio for $164.5 million.
Located in the Atlanta metropolitan area, the Mansions portfolio consists of 559 independent living units.
Situated within 30 miles of one another, the communities feature amenities, such as restaurant-style dining rooms, fitness centers, in-unit washers and dryers and landscaped grounds.
Each of the communities were constructed between 2016 and 2020.
Walker & Dunlop’s investment sales team of Joshua Jandris, Mark Myers, Jordyn Berger and Brett Gardner provided advisory services to the seller and facilitated the portfolio disposition.
Walker & Dunlop’s Russell Dey of the firm’s seniors housing finance team, arranged three loans through Freddie Mac, in conjunction with the sale.
“This transaction exemplifies the benefits of collaboration among Walker & Dunlop’s many platforms,” states Jandris, a managing director at Walker & Dunlop. “By combining forces amongst our investment sales and financing teams, we were able to provide our clients with best-in-class service, despite a challenging landscape as a result of the COVID-19 pandemic.”
Jandris adds, “We have a long-standing relationship with both buyer and seller, and have completed a total of seven transactions for them or their partners. We look forward to furthering our relationships going forward.”
“We are thrilled to have been able to collaborate with Freddie Mac in providing a customized financing solution for our client on the Mansions portfolio,” says Dey.