Moorings buys Grand Lake's first phase

In one of the largest multifamily transactions in Southwest Florida over the past year, Moorings Inc. has acquired the first phase of its newly opened luxury senior housing community, in Naples, for $80.38 million.

The senior housing operator bought the trio of seven-story buildings at Moorings Park Grande Lake from joint venture partner LB Naples Grande LLC, an entity controlled by London Bay Development Group, Collier County property records show.