Alabama senior housing traded for $27M

Site home to more than 250 residential units
Published on Jun 6, 2008

Carlton Cove, an entrance-fee continuing care retirement community in Huntsville, Ala., has sold to another operator of senior housing communities for nearly $27.3 million. ACTS Retirement-Life Communities purchased the 43-acre campus from Carlton Cove Inc. Included in the sale are 49 single-family and duplex homes, 113 independent living apartments, and a 91-unit/105-bed health center, which includes skilled nursing, Alzheimer's care and personal daily assistance. The property's occupancy rate was not disclosed.*** What's your opinion? Leave your comments below or send a letter to the editor. ...

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