The Watermark, a Philadelphia retirement community in the
Logan Square neighborhood of Philadelphia, has sold for $62.25 million,
according to Philadelphia property records.
The seller was Watermark Retirement Communities, a
Tucson, Ariz., senior living company that owns other properties throughout the
region including Blue Bell Place in Blue Bell, Pa., Woodbury Mews in Woodbury,
N.J., and Rose Tree Place in Media, Pa.
A spokeswoman for Watermark Retirement said the property
was in transition but didn’t elaborate. The buyer couldn’t be confirmed.
The Watermark at Two Franklin Town Blvd. in Philadelphia
is a 420,000-square-foot building that has a mix of living options. It has a
total of 464-units comprised of independent living, personal care, memory-related
and rehabilitation.
Source: Philadelphia
Business Journal
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