Concordia to buy Ohio retirement community
JEFFERSON TWP — Concordia Lutheran Ministries is reaching into Ohio with the purchase of a retirement community in Akron.
The community, Sumner on Ridgewood in the Akron-suburb of Copley, has 22 villas, 79 apartments, 40 assisted-living beds and 48 skilled-nursing beds, according to a Concordia news release.
Built in 2003, Sumner has an overall occupancy of 78 percent.
Concordia will buy the property, which has been in receivership since 2008, for $23 million.
“Concordia has been looking for quite some time for an opportunity to expand our mission to serve seniors outside of Western Pennsylvania,” Keith Frndak, Concordia’s president and CEO said in the release. “Our board of directors believes that Sumner offers an excellent first step to accomplish that goal.”
Concordia plans to change the name of the community to Concordia at Sumner. Closing on the transaction is expected in mid-November.
Concordia Lutheran Ministries operates 555 independent living units, 901 personal care or assisted living beds, 290 skilled nursing beds and 16 hospice beds.
The other properties are: Concordia at Cabot in Jefferson Township; Concordia at The Orchard in Center Township; Concordia at Rebecca Residence in Allison Park; Good Samaritan Hospice in Wexford; Concordia of South Hills in Mount Lebanon; Concordia of Cranberry in Cranberry Township; Concordia of Fox Chapel in Allegheny County; Concordia of Franklin Park in Allegheny County; and Concordia of Wexford in Allegheny County.
Concordia also has home and community-based services including professional and private duty home care, medical equipment and community hospice services.
System-wide, Concordia will have nearly 2,000 employees after the Sumner purchase, the release said.
