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 …
Massachusetts
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 …
NEWTON, Mass. — Margaret Wigglesworth will assume the role of senior vice president and chief operating officer at Five Star Senior Living (Nasdaq: FVE) effective Aug. 12, the Newton-based company announced Tuesday. In addition to leading Five Star’s operations, she will direct various aspects of its administrative functions. Wigglesworth replaces former COO Scott Herzig, who left the company in December 2018. With extensive management experience spanning nearly three decades, Wigglesworth brings valuable leadership to Five Star’s executive team during a period of transformation, according to the company. Wigglesworth previously held …