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GARFIELD HEIGHTS, Ohio — Ziegler has arranged the sale of The Village at Marymount, a 246-unit senior living and skilled nursing retirement community in Garfield Heights, a suburb of Cleveland.
Built in 1952, Marymount is a faith-based, nonprofit continuing care retirement community established by the Sisters of St. Joseph of the Third Order of St. Francis.
The buyer, a privately held owner and operator based in Lakewood, New Jersey, took over operations on June 30. The new owner assumed approximately $16 million of HUD debt as part of the transaction.
Ziegler represented the seller. The price was not disclosed.