Concordia Lutheran Ministries Buys Ohio CCRC from Receiver for $23 Million

| November 15, 2012

Tampa, Fla.-based CLW Senior Housing recently represented a court-appointed receiver in the $23 million sale of an Ohio continuing care retirement community.

Concordia of Ohio, a subsidiary of Concordia Lutheran Ministries, acquired Sumner on Ridgewood, a ‘Type C’ CCRC built in 2003, from Jeffrey T. Heintz of Brouse McDowell.

The 64-acre property’s overall occupancy was at 78% at time of sale. Sumner on Ridgewood has a total of 189 units, comprised of 22 independent living villas; 79 garden apartments; 40 assisted living units; and 48 skilled nursing beds. 

All resident contracts will be fully assumed by Concordia of Ohio.

Written by Jason Oliva


Companies: , ,

Category: Acquisitions, CCRCs, Finance

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