Several Bloomington apartment complexes with connections to Cook Group Inc. have been sold.
Among the owners listed in records for properties sold July 20 are CFC, which is a Cook Group company, and Gayle Cook Revocable Trust. Gayle Cook and her husband, Bill Cook, who died in 2011, founded Cook Inc. in 1963 as a medical device company. Since then, the company has grown into the international Cook Group with interests well beyond medical devices.
Property transfer records list the sales cost at more than $72 million for complexes that include Basswood, Kingston Manor, Northcrest, Woodland Springs and Summit Pointe. Cook Group Chairman Steve Ferguson said the sales amount is deceiving and does not represent profits, since mortgages were still being paid on many of the properties.
Ferguson said many partners bought into the properties over the years and most are in their 60s or older now. The longevity of ownership, age of the owners and a strong sales market made it a good time to sell.
Also listed among the owners on the property records are first-year IU basketball coach Mike Woodson and former IU player and assistant coach Jim Crews.
Ferguson said he’s looking for single-family-home real estate possibilities for funds realized by CFC, but he could not speak for any of the other property owners.
Property records list the transactions as:
3200 E. Longview Ave., with Woodson and Crews listed on property records as the owners. Sold to Kingston Manor LLC of Brooklyn, New York.
1440 N. Woodburn, owners CFC LLC, Gayle T. Cook Revocable Trust c/o Cook Group, SGM Northcrest LLC, LR Northcrest LLC, WL Northcrest LLC, JMG Northcrest LLC of Iron Mountain, Mich., to Northcrest United LLC of Brooklyn, New York.
901 S. Basswood Drive and 1000 S. Basswood Drive, sellers CFC LLC, Gayle T. Cook RT, JMG Basswood LLC, SGM Basswood LLC, WL Basswood LLC, LR Basswood LLC. Sold to Basswood United LLC of Brooklyn.
701 E. Summitview Place, sellers JMG SP LLC of Iron Mountain Mich; the RMK SP LLC of Bloomington; the CFC LLC; the Gayle T. Cook Revocable Trust; SGM SP LLC. Sold to Summit Pointe United LLC of Brooklyn, New York.
3111 and 3920 S. Leonard Springs Road, sellers CFC LLC of Bloomington, Eric Taylor of Bloomington, the Gayle T. Cook RT, the MF Woodland LLC, the SGM Woodland LLC of Bloomington. Sold to Woodland Springs United LLC of Brooklyn.
The registered agent listed on property records for all five of the limited liability companies that purchased the apartments is Paracorp Inc. of Indianapolis. The limited liability companies that were listed as sellers have the same registered agent as well, attorney Edwin Broecker of Indianapolis.
