Two Sarasota properties sold for redevelopment see 600%, 700% price increases

Naples

Michigan firm acquires senior living facility

A real estate development and investment firm has bought a senior living facility in Naples. The buyer is Redico and it acquired Amira Choice’s center at 9015 Bellaire Bay Dr. The center was renamed American House Naples. Redico did not disclose a sale price. Collier County records, however, show the property was bought by Boston-based AEW Capital Management for $32.75 million. (Redico and AEW have worked as a joint venture on previous American House projects.) The new facility increases Redico’s portfolio in Florida to 10 and locally to four. The other three are American House Bonita Springs, American House Coconut Point and American House Fort Myers. The 128-unit American House Naples is made up of 96 assisted living and 32 memory care apartments. It has one- and two-bedroom units available. Michigan-based Redico operates 60 American House facilities in the Midwest, Southeast and New England.