Senior Living Community in Savannah Trades for $18M
JLL has arranged the $18 million sale of Summer Breeze, a 79-unit independent living, assisted living and memory care community on Wilmington Island in Savannah, GA.
Summer Breeze offers 28 independent living, 39 assisted living and 12 memory care units. Residents can take advantage of the community’s restaurant-style full-service dining, full-service salon, community library, in-house physical, occupational and speech therapies, an activity program, scheduled transportation, and weekly housekeeping services. The community was 95% occupied at the time of sale.
Mike Garbers, Cody Tremper and Michael Sivewright of JLL represented the seller, private equity firm Bridge Investment Group, in the transaction. A 1031 investor acquired the property.
David Cohen is Southeast Editorial Director at Connect Commercial Real Estate. David is a media veteran with more than 10 years of experience in journalism, copywriting and communications across a variety of roles. He is responsible for covering commercial real estate news and trends in the Southeast, Florida, Washington D.C. and Boston at Connect CRE as well as specializing in the Student Housing sector.
Prior to joining Connect, David was the editor of Northeast Real Estate Business magazine and Student Housing Business magazine at France Media as well as spending time freelancing for ESPN and the Associated Press in the fast-paced field of live sports event production. He is also an owner and investor in multifamily real estate in Atlanta, GA.
David currently resides in Atlanta and graduated from the College of Communication & Information at the University of Tennessee Knoxville.