Retirement Complexes Sell for $51.1 Million
Veranda Park and Anna Maria Creekside retirement complexes sold to a Mcminnville based company, The Springs Living LLC, for $51.1 million.
The two complexes are considered large for the Medford area, and the company taking over promises little to no changes to the 55-older communities when management turns over July 1st.
Previous majority owner Mike Mahar said, “This was a very, very weighty decision because we wanted only the right company that has the core values we have…To have a company of this caliber coming in and wanting to do it makes all the difference.”
Springs Living owns eight other Oregon retirement communities, with two similar operations in Montana.
Posted on 5/30/14 9:04AM by Kyle Dunlap