BEDFORD, Va. (AP) - A Blacksburg company is buying the Elks National Home in Bedford for $4.5 million.
Twenty/20 Management owns and manages assisted living facilities.
Elks National Home executive director Pam Mutter tells media outlets that the deal is expected to close Dec. 31.
Twenty/20 Management owner Mike Williams says he wants to keep the Elks' rich tradition alive while investing in improvements.
The Benevolent Order & Protective Order of the Elks built the facility, which was dedicated during World War I. Thousands of visitors come to Bedford each winter to see the retirement home's Christmas light display.
Mutter says financial difficulty and a decline in Elks membership were factors in the sale.
The Elks opened the retirement home to non-members in late 2012.
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