DALLAS, TX – Holliday Fenoglio Fowler, L.P. (HFF) announces the sale and financing for Village Park at Alpharetta, a newly built, 127-unit luxury seniors housing community in the Atlanta suburb of Alpharetta, Georgia.
The HFF team marketed the property on behalf of the seller, Village Park Senior Living. Harbert Management Corporation purchased the offering free and clear of existing financing. Additionally, the team procured floating-rate acquisition financing on the new owner’s behalf.
Completed earlier this year, Village Park at Alpharetta is located at 12300 Morris Road approximately 20 miles from Atlanta and within five miles of two top-notch healthcare facilities – WellStar North Fulton Hospital and Emory Eastside Medical Center. The property is central to all of Alpharetta's recreational destinations, including the Avalon, an 86-acre mixed-use development with more than 500,000 square feet of retail, a 12-screen premium movie theater, full-service hotel, Class A office and luxury residences, as well as the Alpharetta City Center redevelopment of downtown Alpharetta. Village Park at Alpharetta totals 177,098 square feet comprising 66 independent living units, 43 assisted living units and 18 memory care units in a variety of five housing options: cottages, bungalows, flat-style apartment units and dedicated memory care. The richly landscaped community offers access to multiple gardens and walking paths along with market-leading amenities such as a fitness center, juice bar, full-service restaurant and chapel. Residential units feature stainless steel appliances, a blend of hardwood and carpeted flooring, granite countertops, high-end finishes and fireplaces.
The HFF investment advisory team representing the seller included senior managing directors Ryan Maconachy, Chad Lavender and Jason Nettles.
HFF’s debt placement team representing the new owner included director Sarah Anderson.
About Village Park Senior Living: Village Park Senior Living was originally founded in 1996 by Tim T. Gary to develop property and manage assisted living and complimentary retail centers. Currently, Village Park Senior Living is developing projections and market studies for future projects in the metro Atlanta area.
About Harbert Management Corporation: Harbert Management Corporation (HMC) is a privately owned alternative asset management firm with approximately $6 billion in Regulatory Assets Under Management across 10 discrete asset classes. HMC’s investment strategies include European and U.S. real estate, seniors housing, European and U.S. growth capital, mezzanine debt, independent power, U.S. private equity and public securities. HMC’s U.S. and seniors housing real estate strategy has offices in San Francisco, California; Birmingham, Alabama; and Dallas, Texas. Additional information about HMC can be found at harbert.net.
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.