Foreclosed Stillwater retirement community sold for nearly $20M 

News
This is an archived article and the information in the article may be outdated. Please look at the time stamp on the story to see when it was last updated.

STILLWATER, Okla. – A retirement community in Stillwater was sold for nearly $20 million and will open this year.

Last Spring, News 4 reported that “The Ranch,” was under construction and more than 70 percent complete when investors had foreclosed on the property.

The retirement community was designed to accommodate those who are 62 and older with fitness, health and memory care services.

Now, according to the Journal Record, The Ranch has a new owner.

The Ranch in Stillwater, OK

“Safari Hospitality” out of Utah purchased the facility for $19.5 million.

Safari Hospitality CEO Jim Burgess says the company has been in contact with residents, approximately 100, who previously put down deposits.

“We’re hoping to come to a good solution that works [for the depositors] so that no one that wants to move there misses out,” he said.

Burgess says construction started again last week.

The new owners hope to finish construction and open in about six months.

Copyright 2021 Nexstar Media Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

Featured

More Featured Stories

Latest News

More News

National News

More National

Washington D.C.

More Washington

Your Local Election HQ

More Your Local Election HQ

Daily Oklahoma Coronavirus Data

Contact In Your Corner Team

Latest News

More News

KFOR Digital Originals

More Digital Original

Popular

Follow @KFOR on Twitter

Border Report

More Border Report