SENIORS HOUSING PROPERTY IN OHIO SELLS FOR $23M

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COPLEY TOWNSHIP, OHIO — Concordia of Ohio has acquired the 280,185-square-foot Summer on Ridgewood, a continuing care retirement community in Copley Township, for $23 million. The property is 78 percent occupied and all resident contracts will be assumed by the new owner. The property features 22 independent living units, 79 garden apartments, 40 assisted living units and 48 skilled nursing beds. CLW Senior Housing represented the court-appointed receiver, Jeffrey T. Heintz of Brouse McDowell, in the transaction.

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