SHREWSBURY, Mass. — Massachusetts-based Casa Builders and Developers has started construction of Wyman Farms, a 26-unit senior living community in Shrewsbury, an eastern suburb of Worcester. The property will feature 13 duplex-style residences with two bedrooms each that will be restricted to residents age 55 and older. The property is located near UMass Memorial Medical Center University Campus, multiple golf courses and retailers such as Wegmans, Walmart and Whole Foods Market. The project is slated for completion in 2022.
Massachusetts
SOUTHBRIDGE, MEDFORD and AUBURN, Mass. — Let’s Pave, a pavement management company, has completed its Road to Recovery initiative by delivering supplies and gift cards to nursing homes and other frontline workers throughout Massachusetts. CEO C.B. Kuzlik personally made the 35-hour round trip from the company’s Chicago-area headquarters to deliver the supplies. Recipients were Harrington Hospital in Southbridge, Glen Ridge Nursing Care in Medford, Courtyard Nursing Care Center in Medford, and Auburn Youth and Family Services in Auburn. The company raised more than $40,000 for healthcare and senior living workers, …
Hunt Real Estate Capital Funds $7.8M Refinancing for Emanuel Village Apartments in Worcester, Massachusetts
by Jeff Shaw
WORCESTER, Mass. — Hunt Real Estate Capital has provided a $7.8 million loan to refinance Emanuel Village Apartments, an affordable seniors housing community in Worcester. The community features 75 units reserved for the disabled and those over age 62 who meet certain income restrictions. The community was initially developed in 1991 on a 3.8-acre parcel under the Section 202 program. The Section 202 financing was retired in 2005 with a refinance under the Section 223(f) program, and that loan was retired when the borrower acquired the asset. The new Section …
CHICAGO — Harrison Street, a Chicago-based alternative asset investment firm, has acquired a portfolio of 11 properties managed by Brightview Senior Living located throughout Maryland, New Jersey and Massachusetts. Harrison Street and Brightview already partner on several properties. This acquisition adds 1,322 units to the portfolio. The price and seller were not disclosed. The properties include: Brightview Perry Hall, Nottingham, Maryland Brightview Rolling Hills, Catonsville, Maryland Brightview Towson, Towson, Maryland Brightview White Marsh, Baltimore Brightview South River, Edgewater, Maryland Brightview Greentree, Marlton, New Jersey Brightview Mount Laurel, Mount Laurel, New …
BREWSTER, Mass. — OREC Securities, the investment banking affiliate of Lancaster Pollard, has arranged the sale of Pleasant Bay Nursing and Rehabilitation Center in the Cape Cod town of Brewster. The community is a five-star rated facility with 135 skilled nursing beds and 59 assisted living units. Although the original plan was to split the community into two separate sales, a regional owner-operator bought the properties as a single asset. Laca Wong-Hammond, Chad Elliott, Kevin Laidlaw and Aaron Becker led the transaction for OREC. The seller and price were not …
Pennrose to Convert Historic School in Boston into Affordable, LGBTQ-Friendly Seniors Housing
by Jeff Shaw
BOSTON — Pennrose Development and LGBTQ Senior Housing Inc. have unveiled plans to convert the historic William Barton Rogers Middle School in Boston’s Hyde Park neighborhood into an LGBTQ-supported affordable seniors housing community. The $33 million project will transform the existing structure into 74 units of income-restricted rental units. Tenants must be at least age 62, and the community will be “specifically welcoming to seniors who identify as LGBTQ,” according to the developers. “As Boston’s residents continue to age, the need for safe, affordable housing that is welcoming to all …