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.

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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.

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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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The transaction is a continuation of a six-property portfoliosale that closed in October of this year. It is part of the thirdportfolio that Bruce Gibson, principal of SeniorCapital Advisors, has sold for PSLG and the second such portfoliothat has been purchased by different ARCHT funds. This transactionbrings the total volume of properties sold by Bruce Gibson onbehalf of PSLG to $370 million, across 23 communities with morethan 1,500 units.

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

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John Jordan

John Jordan is a veteran journalist with 36 years of print and digital media experience.