Sabra Health Care REIT has acquired two senior housing facilities located in Augusta, GA and Gulf Breeze, FL, for an aggregate purchase price of $28.5 million.
Sabra acquired the Georgia property, a 100-unit assisted living and memory care facility, on March 5. The facility, the Claiborne at West Lake, opened in late 2018 and was nearly 90% occupied at the time of the transaction. The transaction was underwritten with an initial cash yield of nearly 8%, and features an earnout opportunity for the seller after 12 months.
Along with the acquisition of the Claiborne at West Lake, Sabra simultaneously entered into a management agreement with property's current manager, Claiborne Senior Living, to continue managing the property.
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Ingrid Tunberg
Ingrid Tunberg sits on the editorial team as a coordinator and reporter for Real Estate Forum and GlobeSt.com. She is responsible for writing stories, assisting with industry awards and marketing nomination events. Previously, Ingrid worked as a copywriter across various industries throughout New York City and Chicago.
