ALPHARETTA, GA—Locally-based Principal Senior LivingGroup reports it has sold a two-property portfolio ofassisted living and memory care communities in Georgia and Kansasto New York City-based American Realty Capital HealthcareTrust II.
The two properties total 150 units and 205 beds. No financialterms of the transaction were released. Senior CapitalAdvisors of North Miami, FL, which announced thetransaction, represented Principal Senior Living Group in the deal.Principal Senior Living will continue to manage the properties onbehalf of the new ownership.
The portfolio that changed hands includes the BentonHouse of Alpharetta, GA, which consists of 79 units and105 beds. The property was built in 2013 and expanded in 2014. Thesecond property now owned by American Realty Capital HealthcareTrust II is the Benton House of Prairie Village,KS, a 71-unit, 100-bed facility built in 2013 and expanded in2014.
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John Jordan
John Jordan is a veteran journalist with 36 years of print and digital media experience.
