SMR Sells Land for Independent Living Facility
LAKEWOOD RANCH — Schroeder-Manatee Ranch has sold 4.43 acres of vacant commercial property in Lakewood Ranch Town Center to an affiliate of Hawthorn Retirement Group, LLC, a Washington-based company, for $1.3 million.
The March 4 sale, according to court records, requires the purchaser to use the property as an independent living facility.
The independent living facility must be used for one or more buildings, having a maximum of four stories and containing no more than 151,349 square feet.
The property, which is off Natures Way, is within walking distance to Windsor at Lakewood Ranch and Reflections memory care center.
Pete Russell, who manages Windsor and Reflections, said he formerly had the property that Hawthorn purchased under contract, but SMR ultimately sold it to Hawthorn.
Russell said Hawthorn is one of the largest providers of independent living facilities in the country.
He expects Hawthorn to be a great feeder for Windsor and Reflections.
An inquiry to Hawthorn was not returned.