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TN Assisted Living to Foster Care
MIG sold 20-unit Eastern TN AL, buyer repurposing as foster care housing at $93K/unit.
Overview
Montgomery Investment Group successfully facilitated the sale of a 20-unit assisted living community in Eastern Tennessee. Originally built in the 1990s, the property had served the senior living sector for decades but was ready for a new chapter.
Results
The buyer, a mission-driven group, acquired the community with plans to convert it into specialized foster care housing. The transaction closed at $93,000 per unit, reflecting both the property’s intrinsic value and its potential for impactful repurposing.
Conclusion
This transaction represents a true win-win-win: the seller achieved a favorable exit, the buyer secured a property aligned with their vision, and the broader community benefits from much-needed housing for foster care youth.
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