Presbyterian Retirement Communities buys land near Westminster Towers & Shores

BUYER: Presbyterian Retirement Communities Inc., Orlando
SELLER: Biel REO LLC
PROPERTY: 1805, 1806 and 1813 First Ave. W., Bradenton
PRICE: $2.25 million
LAW FIRM ON DEED: Law Firm of Trenam Kemker, St. Petersburg

PLANS, DESCRIPTION:
Presbyterian Retirement Communities Inc., the parent company of Westminster Towers & Shores, purchased 2.27 acres of land on the Manatee River for $2.25 million.

The price equated to $991,189 per acre.

The land, which is composed of three parcels, is currently vacant and zoned for multifamily or single-family homes.

“We have no firm plans for it,” says Wes Meltzer, director of communications for Westminster Communities of Florida, which manages the properties for Presbyterian Retirement Communities. “It's near
Westminster Towers & Shores. This is just part of our ongoing effort to continue to serve seniors in the great Sarasota-Manatee area.”

Westminster Towers & Shores features two high-rise buildings along the Manatee River and is a continuing-care retirement community.

Michael Price of Land Solutions Inc. represented the seller.