ALPHARETTA, Ga., Dec. 02, 2024 (GLOBE NEWSWIRE) -- Phorcys Capital Partners, LLC ("PCP”) is pleased to announce the sale of The Glen at Lake Oconee Village ("The Glen”), a 114-unit senior living community located in Greensboro, Georgia to a prominent healthcare real estate investment trust. The successful sale of The Glen provides further proof of concept of PCP's value-add strategy focused on acquiring distressed senior housing assets originally financed by municipal bonds.
"We are excited to announce the sale of The Glen to a well-respected healthcare investor,” said Vasileios Sfyris, Managing Partner at PCP. "We are proud of what our team has accomplished both as the senior creditor and eventual owner of The Glen. We are also deeply appreciative of SRI's successful tenure as the community's operator and their team's ability to deliver strong operating results while ensuring quality care for The Glen's residents.”
The sale of The Glen at Lake Oconee Village marks another milestone in PCP's increasingly active role in seniors housing. Since the launch of Phorcys Senior Housing Recovery Fund ("SHRF”), PCP has focused on acquiring and improving distressed senior living assets nationwide financed by municipal bonds.
About Phorcys Capital Partners
Phorcys Capital Partners is an alternative asset manager specializing in distressed municipal bonds and acquiring real assets secured by such bonds. With a focus on senior living, multifamily housing, student housing, and hospitality, Phorcys has invested over $130 million in senior living assets and $405 million across all sectors.
For more information, contact:
Phorcys Capital Partners
Matt Doss, Managing Director
770-777-9373
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/89c5edf0-52ff-48b8-a0fa-ded156fab0b1
