Northridge Retirement Community sold to Sunwest Management Inc. for $16.5 million

Northridge Retirement Community sold to Sunwest Management Inc. for $16.5 million

5410 17th Ave, Kearney, NEThe recent sale of Northridge Retirement Community is the most expensive commercial property transaction in Kearney history.

Oregon company Sunwest Management Inc. — doing business as Kearney Senior Living LLC — purchased the independent and assisted living facility from Northridge Retirement Community LLP for $16.5 million on May 31.

Craig Larmon of Lincoln and Jan Thayer of Grand Island are among Northridge Retirement Community LLP business partners who sold the 113-unit facility.

Buffalo County Assessor Joe Woodward said the $16.5 million purchase price is the most ever paid for a piece of commercial property in the county.

Northridge was built for $8.5 million and opened in 2001 at 5410 17th Ave. on the northwest edge of Kearney.

Sunwest Management of Salem, Ore., publicly announced its purchase of the facility in early May. The retirement home retained its Northridge name and is managed by Sunwest.

Company Info:

Sunwest Management, Inc. (SMI) was founded in 1991 with a portfolio of three properties: two retirement communities and one skilled nursing community. Currently, SMI manages over 250 communities nationwide.

By TODD GOTTULA, Kearney Hub

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