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MIAMI—In a transaction worth more than $200 million, TJM Properties just sold 15 of its senior living communities, Fortress Investment Group/Holiday, a real estate investment trust (REIT) that specializes in retirement housing, snapped up the assets.

Since 2001, TJM has acquired, developed and managed a portfolio of senior living facilities across the southeast. Recently, TJM received several offers for its senior living properties and ultimately decided to sell 15 of them to Fortress.

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