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