ALPHARETTA, GA—Locally-based Principal Senior Living Group reports it has sold a two-property portfolio of assisted living and memory care communities in Georgia and Kansas to New York City-based American Realty Capital Healthcare Trust II.

The two properties total 150 units and 205 beds. No financial terms of the transaction were released. Senior Capital Advisors of North Miami, FL, which announced the transaction, represented Principal Senior Living Group in the deal. Principal Senior Living will continue to manage the properties on behalf of the new ownership.

The portfolio that changed hands includes the Benton House of Alpharetta, GA, which consists of 79 units and 105 beds. The property was built in 2013 and expanded in 2014. The second property now owned by American Realty Capital Healthcare Trust II is the Benton House of Prairie Village, KS, a 71-unit, 100-bed facility built in 2013 and expanded in 2014.

The transaction is a continuation of a six-property portfolio sale that closed in October of this year. It is part of the third portfolio that Bruce Gibson, principal of Senior Capital Advisors, has sold for PSLG and the second such portfolio that has been purchased by different ARCHT funds. This transaction brings the total volume of properties sold by Bruce Gibson on behalf of PSLG to $370 million, across 23 communities with more than 1,500 units.

“PSLG's great site selection, combined with its strong operating platform, resulted in the need to expand each of these properties shortly after opening. Both properties have performed very well, moving quickly from opening to stabilization," Senior Capital Advisors' Gibson says.