Ziegler facilitated the sale of a not-for-profit, Episocopal Church-based, rental CCRC in Waterford Township, Michigan. Built in 1994, Canterbury on the Lake is a 273-bed/unit senior living campus with seniors housing and skilled nursing services. Nick Glaisner handled the transaction, which closed on October 31.
The campus encountered obstacles with the physical plant over the past year, compounded by a difficult economic climate. Ziegler identified a group of qualified buyers capable of managing the campus and absorbing interim operational losses until the transaction was completed. The acquiring party, a private owner/operator based in Lakewood, New Jersey, took over as interim manager on October 1.
