$93M senior living sale sets Sarasota record

SARASOTA — A New York-based real estate investment trust bought two senior living facilities in south Sarasota for $93.1 million, the most expensive sale ever in the county.

NorthStar Healthcare Income Inc. bought the Springs at Lake Pointe Woods and the Fountains at Lake Pointe Woods, both of which are at the intersection of South Tamiami Trail and Lake Pointe Boulevard. The latter development features 198 units in 12 buildings on roughly 40 acres, while the Springs houses 174 units in three buildings on about eight acres.

The seller is an affiliate of Tucson, Ariz.-based Watermark Retirement Communities, which also manages The Fountains at Lake Pointe Woods.

The transaction is the largest in the county since Westfield Group bought Sarasota Square Mall for $77 million in 2003, according to data filed with the Sarasota County Property Appraiser's office.