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Stillwater retirement community, The Ranch, sold for $19.5 million

March 27, 2019

Read an article about our new Oklahoma community from the Stillwater News Press.

“A senior housing development in Stillwater has a new owner that plans to get the project opened in about six months. Cedar City, Utah-based Safari Hospitality purchased The Ranch, 5601 N. Washington St., for $19.5 million. This is Safari’s first Oklahoma purchase. The company has partnered with Western States Lodging and Management, which will operate The Ranch when it’s completed. Safari Hospitality CEO Jim Burgess said Western States operates 20 senior living developments around the nation. Safari operates about 50 hotel properties with companies such as Marriott, Hilton, and InterContinental Hotels Group. The sale closed Feb. 8, which was when Guthrie-based Gellenbeck Construction Inc. was supposed to close on the foreclosed property. But the company received several unsolicited offers for development. The Ranch has more than 200 units with a range of senior care, from independent living to memory care. Payne County assessor records show that Gellenbeck never owned the property and Safari, doing business as Stillwater Ranch Holdings LLC, bought it in February.”

See article here at  https://www.stwnewspress.com/news/stillwater-retirement-community-the-ranch-sold-for-million/article_0941ee7c-2f87-5c6f-84a0-c139bf2f9d03.html.

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