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Retirement-community owner being purchased
The owner of two Philadelphia-area retirement communities is being purchased for an undisclosed amount by Redwood Capital Investments L.L.C., a New York investment firm.
The owner of two Philadelphia-area retirement communities is being purchased for an undisclosed amount by Redwood Capital Investments L.L.C., a New York investment firm.
Redwood won an auction to buy bankrupt developer Erickson Retirement Communities, a Baltimore operator of retirement communities in 11 states that filed for Chapter 11 reorganization in October.
Its properties include Maris Grove in Glen Mills and Ann's Choice in Warminster. - Bloomberg News