Sarasota, Naples senior communities acquired by NY investor

A New York investor has acquired two senior living properties in the region: Discovery Village Sarasota Bay and Discovery Village Naples. Financial terms of the acquisition were not disclosed.

As a result of the transaction, commercial real estate investment manager Town Lane has acquired the independent living components of the communities, which together total 373 units. 

Each campus contains assisted living and memory care facilities, which will continue to be operated by Discovery Senior Living. The Bonita Springs-headquartered senior living company will also continue to lease and operate Discovery Village Sarasota Bay and Discovery Village Naples, according to a statement.