- What Orchard View By the Mississippi has changed hands for $51.4m
- Why AON Inc. purchased the retirement residence
- What next Buyer owns retirement and long-term care homes, a construction company and a golf course
A retirement residence in eastern Ontario changed hands last month for $51.4m, Green Street News can reveal.
Peterborough, Ont.-based AON Inc. purchased Orchard View By the Mississippi. The property is on 8 acres at 219 Paterson Street in Almonte, a ward of the town of Mississippi Mills, 50 km west of Ottawa. The transaction closed on June 21.
Local developer Joe Princiotta previously owned the facility, which opened in 2016. It has studio to two-bedroom suites, a therapeutic spa and a memory care unit.
Orchard View has 121 suites and 32 townhouses.
AON’s real estate portfolio includes 260,000 sq ft of office and retail space, mostly in Peterborough; long-term care homes in Tweed and Millbrook, Ont.; a construction company, and a golf course, in Port Hope, Ont.
It also owns the Gardens of Peterborough retirement communities, comprising Empress Gardens, Princess Gardens, Royal Gardens and Canterbury Gardens.
