Senior Care Development Wins The Clare Auction

April 13, 2012

April 13, 2012. An affiliate of Senior Care Development, together with a few investors, won the auction yesterday, April 12, for The Clare at Water Tower in downtown Chicago, with a winning bid of $53.5 million plus the assumption of the entrance-fee liabilities...

There was one other active bidder, Prime Realty Trust, as well as Senior Star, which was at the auction but apparently did not bid.  Life Care Services will manage the community for Senior Care Development. The transaction may close by the end of the second quarter.  

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