W M Daugherty & Co. (WMD) has purchased Berkeley Oaks, an assisting living community in Williamsburg that fell into bankruptcy after it was substantially completed. The company says it plans to finish the project and open it by Feb. 1.
The company, based in Minneapolis, said it was the high bidder at a court-appointed sale of the project at 1807 Jamestown Road, which it purchased for about $7.5 million.
New Dawn Assisted Living, based in Phoenix, and various affiliates filed for Chapter 11 bankruptcy relief in November 2015.
The project was planned with 48 private suites to serve people with memory-related impairments.
