Newmark announced the closing of a seniors housing community in Sioux Falls, South Dakota. The community, Grand Living at Lake Lorraine, was built in 2017 and comprises 156 independent living, assisted living and memory care units across 201,000 square feet. The seller, Grand Living, owns/operates several other seniors housing communities in Iowa, Florida and Texas, with additional developments actively in the works. The buyer was an undisclosed investor/operator that plans to rebrand the community with a new name, but is interested in rehiring the in-place team to facilitate a smooth transition.
Grand Living Sheds South Dakota Seniors Housing Community
