ARDEN — Ardenwoods, a retirement and assisted living community in Arden, has been sold for $15 million to a group led by Retirement Living Associates owner David Ammons.
Buncombe County records show the property at 2400 Appalachian Boulevard was deeded this month to Arden Retirement LLC, a limited liability corporation registered to Ammons. Ardenwoods has been open since 2002 with 96 apartments and 48 assisted living spaces. Retirement Living Associates now manages the facility among its seven other sites in North Carolina, South Carolina, Georgia and Florida.
Ammons said Tuesday the deal was attractive, as he has prior relationships with the facility’s builders, Rick and Jerry Grant of Beverly-Grant, Inc., as well as its former owners, Life Care Services of Des Moines, Iowa and Connecticut-based HJ Sims.
Having attended several meetings at the property and getting to know some of its residents, Ammons determined Ardenwoods is “the kind of community we like.”
“At every turn, it kept making more and more sense,” he said. “That’s why we bought it.”
It is Raleigh-based Retirement Living Associates’ second property in Western North Carolina. The company also owns the Mars Hill Retirement Community, about 31 miles north of Ardenwoods. It’s located about five miles from Sierra Nevada Brewing Co.
Ardenwoods currently has 85 employees and about 200 residents in its assisted living and retirement facilities, Jake Rightmyer, the property’s executive director, said.
Ammons said one other part he liked with the deal is the nearly 30 acres surrounding the property. He said his group is exploring what it could add to it over time, remarking that “we feel we can grow Ardenwoods appropriately.”
Expansion plans for the site have not yet been determined.