July 11, 2016
LTC Properties, headquartered in Westlake Village, CA, acquired the Village at Athens, a 70-unit assisted living and memory care property near Athens, GA. LTC paid $14.3 million for the asset.
The purpose-built, private-pay asset at 2040 Resurgence Dr. has 90 licensed beds, and is comprised of 50 assisted living units and 20 dedicated memory care units. The recently completed property received its certificate of occupancy in May 2016, and has been added to a master lease with Thrive Senior Living, the developer.
Village at Athens is one of three properties being built and managed by the LTC-Thrive partnership. Two other properties are in the pipeline, and are expected to open by the end of the year.