LOWELL, Mass. — Blueprint Healthcare Real Estate Advisors has arranged the sale of a 90-bed skilled nursing facility in Lowell, a northern suburb of Boston. Located within relatively close proximity to Lowell General Hospital, which accounts for approximately 1,300 skilled nursing discharges annually, the facility had historically maintained stable census levels with a steady stream of referrals and admissions, according to Blueprint. The regional buyer plans to focus on operational efficiencies, including addressing staffing challenges, as well as investing into capital projects at the facility. The seller, price and name …
BOSTON — Blueprint Healthcare Real Estate Advisors has arranged the sale of Advocate Healthcare of East Boston, located across the harbor from downtown Boston. The 165-bed, five-story skilled nursing facility, originally constructed in 1952 and expanded in 1965, has been a fixture in the Orient Heights neighborhood of East Boston for decades, according to Blueprint. The exiting owner-operator invested in a substantial renovation of the adult day care services wing as well as general improvements throughout the facility. Additionally, the facility has received a Determination of Need (DON) approval for …
NORTHAMPTON, Mass. — Live Give Play and Spiritos Properties have announced plans for 79 King Street, an active adult community in Northampton, a suburb of Springfield. The property is located downtown on a walk/bike path and steps from Smith College. The 70-unit community is designed to achieve Passive House certification. The building rises five stories and totals 110,000 square feet. BKSK Architects is the designer. The developers plan to open the property in late 2024.
BOSTON — TD Bank has provided $22 million in construction financing to redevelop William Barton Rogers (WBR) Middle School in the Hyde Park neighborhood of Boston into 74 units of mixed-income seniors housing, with a focus on LGBTQ seniors. The WBR school is a historic and social landmark in Hyde Park, serving and educating the Hyde Park community for over a century. The building will be preserved and adapted for this new project, which will include the protection of the historic exterior facade as well as significant interior architectural elements …
SOUTHBRIDGE, Mass. — Arch Communities and WinnCompanies have completed a $25.7 million adaptive reuse project to transform a 106-year-old historic school building in Southbridge into apartments for seniors age 55 and older. The Residences at Wells School features 62 apartments, 56 of which provide affordable housing for those earning up to 60 percent of the area median income (AMI), including eight apartments reserved for residents at or below 30 percent of the AMI. Six apartments have been customized for handicapped and sensory-impaired households. WinnResidential, the property management arm of WinnCompanies, …
LEXINGTON, Mass. — EPOCH Senior Living and National Development have opened Bridges by EPOCH at Lexington, a memory care community in the Boston suburb of Lexington. The community is located next to the Belmont Country Club and features three residential households, each consisting of 16 memory care suites. This opening marks the 11th Bridges standalone memory care community in New England for EPOCH Senior Living. EPOCH Senior Living also operates four luxury Waterstone Senior Living communities in Massachusetts, Connecticut and New York.
BROCKTON, Mass. — Blueprint Healthcare Real Estate Advisors has arranged the sale of Connemara Senior Living, an 86-unit independent living, assisted living and memory care community in the Boston suburb of Brockton. The community was built in 1990. Elevation Financial Group acquired the property and plans to convert it to affordable seniors housing. The seller and price were not disclosed.
AUBURN, Mass. — Pennrose has opened Mary D. Stone Apartments, a 55-unit, mixed-income seniors housing community in Auburn, a suburb of Worcester. The project was the historic rehabilitation of a 1920s-era school building, including the demolition of later-built wings and the construction of a new addition. Mary D. Stone was designed to help address the widespread shortage of affordable housing in Massachusetts, where the National Low Income Housing Coalition estimates there are only 48 available affordable rental homes for every 100 low-income households. Eighty percent of the units at Mary …
HAVERHILL, Mass. — Benchmark Senior Living has named Nick Barash as executive director of Benchmark Senior Living at Haverhill Crossings, an assisted living and memory care community in Haverhill, located along the New Hampshire border north of Boston. Barash comes to Benchmark from Atria Merrimack Place in Newburyport, located just 15 miles east of his new employer, where he was also executive director. Previously, he was with Landmark Senior Living communities in Beverly. Barash graduated from James Madison University with a bachelor’s degree in kinesiology.
MASHPEE, Mass. — Greystone has provided a $24.8 million Freddie Mac Optigo loan for the refinancing of a 70-unit seniors housing property in Mashpee, a town on Cape Cod. Built in 2018, Laurentide at Mashpee Commons includes studio, one- and two-bedroom units and offers assisted living and memory care services. Approximately 10 percent of the units are designated as affordable housing by the Cape Cod Housing Authority. Shailini Nehra of Greystone arranged the transaction on behalf of the owner-operator, Northbridge Cos. The fixed-rate, nonrecourse loan carries a 10-year term and …