Chicago Pacific Founders and its subsidiaries, CPF Living Communities and Grace Management, Inc., acquired The Summit of Lakewood Ranch, in Lakewood Ranch, Florida (Sarasota MSA). Grace Management will take over operations and oversee investments made on the campus. The community currently offers assisted living and memory care services.
It was previously known as The Sheridan at Lakewood Ranch and was operated by Senior Lifestyle Corp. It opened in 2016 with 121 units, at a cost of approximately $17 million, or $140,000 per unit. Additional terms of the deal were not disclosed.
