ATLANTA (January 7, 2008) – Smith, Gambrell & Russell, LLP advised Principal Senior Living Group and several of its affiliates in the recently completed sale of eight assisted and independent living communities for the purchase price of $113 million. The buyer was a joint venture between Australian-based FKP Property Group and Macquarie Bank. The facilities are located in Florida, Georgia, South Carolina and Tennessee. SGR’s John Spillman and associate Emily Avant lead the transaction from the corporate side. Tom Spillman handled real estate matters with assistance from SGR’s Jacksonville office. Phillip Hoover assisted with environmental matters.
Principal Senior Living Group, based in Roswell, Georgia, develops, owns and manages independent and assisted living communities through out the Southeast.