A Tennessee company has bought a bigger chunk of the area’s retirement-care market with the $95 million purchase of Freedom Village.
American Retirement Corp., backed by a real estate investment fund, entered an agreement to buy the retirement community near Blake Medical Center from Westport Senior Living. The move further solidifies ARC’s foothold in the region. The purchase will bring the number of units in the area owned by American Retirement to 2,700.
“We will, by association with our other communities, have a good size critical mass in the Tampa-Sarasota-Bradenton area,” said Ross Roadman, ARC’s senior vice president for investor relations and strategic planning.