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 …
Massachusetts
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 …