Cedar Communities, a private equity real estate firm, has acquired 82 assisted living units and 12 independent living units in Commerce and Stone Mountain, Georgia. No financial terms were disclosed.
JERICHO, N.Y., Nov. 12, 2019 /PRNewswire/ — Cedar Communities is proud to announce the acquisition of 82 assisted living units and 12 independent living units in Commerce, Georgia and Stone Mountain, Georgia. The two facilities, Brookside Commerce and Brookside Stone Mountain, become the fifth and sixth properties within Cedar’s growing Assisted Living Portfolio.
Cedar Communities is a private equity real estate firm working with investors on acquiring undervalued boutique sized assisted living facilities in the Southern part of the United States.
Richard Foster, Managing Director of Cedar Communities says, “Cedar provides investors the opportunity to diversify into senior housing opportunities. After exhaustive due diligence on these properties, we are thrilled to have these two Brookside assisted living facilities in our portfolio.”
Anthony Manetta, Managing Director of Cedar Communities adds, “The local Georgia market provides tremendous upside potential for our down-home, bed and breakfast community driven model.”
Cedar Communities has 214 units / 265 beds under ownership, which includes: 31 units in Santee, South Carolina (Magnolias of Santee), 34 units in Commerce, Georgia (Bountiful Hills), 55 units in Staunton, Virginia (Birch Gardens and Royal Care at Birch Ridge), 40 units in Stone Mountain, Georgia (Brookside), and 54 units in Commerce, Georgia (Brookside). To learn more about Cedar Communities please visit www.CedarLP.com