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Last updated on Thursday, September 25, 2014, 3:04 pm

Maryland Company Pays $7M for Assisted Living Facility

A 61-bed assisted living facility in Fayetteville changed hands after a $7 million acquisition. Capital Health Group LLC of Baltimore, Maryland, a privately held owner/operator of senior housing facilities throughout the United States, led by managing principal Ken Assiran, bought the 3.6-acre Brookstone Assisted Living Residence at 415 E. Longview St. The purchase was made in the name of Brookstone Real Estate LLC. Summit Properties-Brookstone LLC of Bryant, managed by Richard A. Williams, was the seller. Synovus Bank of Georgia helped fund the deal. Summit Properties acquired the property in October 2013 for $5.15 million from the Washington Regional Medical Center of Fayetteville. WRMC bought the land for the development from Harvey and Patricia Smith in September 1992 for $1.3 million. The... [ MORE ]

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