A deal four-plus years in the making has come to fruition, as O’Brien Court, Tracy’s congregate care facility, has officially been purchased.
The family-based corporation Lady Liberty Rentals on Monday closed on the purchase of the EDA-owned facility for $1.2 million. Lady Liberty Rentals still has some details to work out with Sanford Tracy, but those should be finalized in early December.
“We had concentrated on properties within 45 minutes of our central location (Buffalo, MN) — this one is a little more long distance, but we have good people working there, and we want to make an impact on whatever community we’re in,” said Greg Olson of Lady Liberty Rentals. “What you have with O’Brien Court is the ability for people to remain independent, but with some support. It allows people to be in a community and have that support in different areas, while still being independent.”
The Tracy EDA was the owner of the physical property only, nothing inside; Sanford Health has been leasing the property and has declined the first right of refusal to purchase the property. The EDA on May 11 held a public hearing on the sale of the property and that day authorized the sale, which was pending the approval of a purchase agreement by the city council.
The owner of O’Brien Court, once everything is finalized, will be OBC Properties, LLC.
See more in this week’s paper!