SARASOTA, Fla. — Walker & Dunlop’s investment sales team has arranged the sale of Grand Living at Lakewood Ranch in Sarasota, a Gulf Coast city south of Tampa.
The 172-unit community offers independent living, assisted living and memory care. The Class A facility was built in 2019.
The sellers, led by Ryan Cos. US Inc., ultimately chose an institutional core fund as the buyer. The price was not disclosed.
Despite the challenges posed by the COVID-19 pandemic, the asset demonstrated remarkable resilience, achieving a 99 percent occupancy rate, a robust profit margin and a substantial waitlist for prospective residents.Joshua Jandris, Tom Falkenberg and Nick Hall of Walker & Dunlop’s Chicago seniors housing team brokered the deal.