Senior Housing Community Sells for $83.5M

Cassidy Turley's Allen McMurtry Represents Seller

PR Newswire

TAMPA, Fla., May 5, 2014 /PRNewswire/ -- Cassidy Turley, a leading commercial real estate services provider in the U.S., announces that Executive Managing Director Allen McMurtry has arranged the $83.5 million sale of Somerby of Alpharetta.

Located in Alpharetta, GA, the community includes 282 units comprised of 16 Independent Living villas, 187 Independent Living apartments, 56 Assisted Living units and 23 Memory Care units. The community was built in 2007-2008 and maintains occupancy in the mid-90% range.

Mr. McMurtry represented the seller in its disposition of the community. The purchaser was a publicly-traded REIT.

Cassidy Turley's Tampa Senior Housing team has sold 153 Senior Housing communities in 29 states with an aggregate sales volume of over $1.9 billion.

Follow this link to download a property photo of Somerby of Alpharetta.

About Cassidy Turley
Cassidy Turley is a leading commercial real estate services provider with more than 3,800 professionals in more than 60 offices nationwide. With headquarters in Washington, DC, the company represents a wide range of clients—from small businesses to Fortune 500 companies, from local non-profits to major institutions. The firm completed transactions valued at $22 billion in 2012, manages approximately 400 million square feet on behalf of institutional, corporate and private clients and supports more than 23,000 domestic corporate services locations. Cassidy Turley serves owners, investors and tenants with a full spectrum of integrated commercial real estate services—including capital markets, tenant representation, corporate services, project leasing, property management, project and development services, and research and consulting. Cassidy Turley enhances its global service delivery outside North America through a partnership with GVA, giving clients access to commercial real estate professionals in 65 international markets. Please visit www.cassidyturley.com for more information about Cassidy Turley.

 

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