DALLAS, TX – Holliday Fenoglio Fowler, L.P. (HFF) announces the sale of five seniors housing properties totaling 325 units across the southeastern United States.
The HFF team marketed the property on behalf of the seller, Principal Senior Living Group. A national private equity fund purchased the offering free and clear of existing debt. The properties will continue to be operated by Principal Senior Living under the Benton House brand. The portfolio, which consists of properties in Florida, Georgia and South Carolina, has an average completion date of 2015 and a total 225 assisted living and 100 memory care units.
The HFF investment advisory team representing the seller included senior directors Ross Sanders and David Fasano along with senior managing directors Ryan Maconachy and Chad Lavender.
About Principal Senior Living Group: Considered one of the preeminent developers/owner-operators in the Southeast and Midwest, Principal Senior Living Group (PSLG) has been in business for over 20 years and has developed, acquired and managed over 50 senior living communities. Headquartered in Alpharetta, Georgia, PSLG currently manages 23 properties in Georgia, South Carolina, Florida, Missouri and Kansas. Six of these communities are being managed for institutional investors and 17 are owned and operated by PSLG.
About HFF: HFF and its affiliates operate out of 26 offices and are a leading provider of commercial real estate and capital markets services to the global commercial real estate industry. HFF, together with its affiliates, offers clients a fully integrated capital markets platform, including debt placement, investment advisory, equity placement, funds marketing, M&A and corporate advisory, loan sales and loan servicing. HFF, HFF Real Estate Limited, HFF Securities L.P. and HFF Securities Limited are owned by HFF, Inc. (NYSE: HF). For more information, please visit hfflp.com or follow HFF on Twitter @HFF.