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Scribner Capital and William James Group Co-Sponsor Seniors Housing Acquisition

New Venture Acquires Two Georgia Seniors Housing Communities

JULY 19, 2022 - Scribner Capital, LLC (“Scribner”) and William James Group, LLC (“WJG”) co-sponsored a joint venture to acquire a portfolio of two seniors housing communities in Georgia. Scribner provided co-sponsor equity and leveraged its network of high-net-worth investors to provide the limited partner equity. WJG provided co-sponsor equity as well and will operate the communities on behalf of the venture.

The newly formed partnership acquired River Place, a 40-bed assisted living and memory care community, and Sunny Grove, a 34-bed assisted living and memory care community. The two communities are located between Atlanta and Macon, Georgia. The portfolio was developed by a local owner-operator and are less than twelve miles apart. They have maintained strong occupancy and financial performance throughout the pandemic.

River Place, in Forsyth, Georgia, is an assisted living and memory care was built in 2017. It is conveniently located just off I-75 and adjacent to a high-end residential development that includes golf and equestrian facilities. Sunny Grove, in nearby Barnesville, Georgia, was built in 2007 and expanded in 2015. The portfolio has maintained 90%+ occupancy for several years, and Sunny Grove has the capacity to add both additional assisted living units as well as independent living cottages.

While the communities are stabilized and have historically performed well, WJG with its depth of experience has identified areas of improvement on both the revenue and expenses sides.

Jimmy Justice, Co-Founder of William James Group, said, "We are excited about the opportunity to add two communities to our management platform and look forward to future acquisitions. We anticipate significant opportunities to expand the partnership and acquire similar assets throughout the southeast.”

“We have been looking for the right opportunity to co-sponsor an acquisition and found a great partner in William James Group. We look forward to growing together for many years and actively pursuing deals. This a great example of our ability to deliver both co-sponsor capital as well as joint venture equity to a growing operator,” said Mr. Scribner.

In addition to Scribner’s capital solutions with its institutional capital partner, it can also provide flexible sponsor-level capital and joint venture equity through its proprietary network of accredited investors.


About Scribner Capital

Scribner Capital was formed in 2020 during one of the most volatile periods in history to provide stable capital to owners, operators and developers of seniors housing and healthcare assets. For nearly 20 years, Principal and Founder James Scribner has been exclusively focused on providing creative and highly-structured capital solutions to the seniors housing and healthcare industry, including joint venture equity and subordinate debt, as well as bridge financing, FHA/HUD and GSE first mortgage financings. He has also led complex restructurings and distressed note purchases. For more information, visit

About William James Group

William James Group, LLC, based in Myrtle Beach, SC, was formed in 2021 by two industry veterans, to create a best-in-class seniors housing operator and fill a need for high-quality operators in the seniors housing sector. WJG operators five seniors housing communities in three states. WJG specializes in identifying and revitalizing under-performing middle-market senior care facilities and implementing value-added programs and operations improvements. WJG’s focus is to provide exceptional care and experiences for residents and staff and superior financial performance for its financial partners.


Scribner Capital

James Scribner


William James Group

Jimmy Justice


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