SHREWSBURY, Mass. — Evans Senior Investments (ESI) has arranged the sale of the Shrewsbury Campus, a continuing care retirement community (CCRC) in Shrewsbury, a suburb of Worcester. Shrewsbury Campus was built in phases between 1969 and 1986. The community comprises Southgate at Shrewsbury for private-pay senior living, Shrewsbury Nursing & Rehabilitation for skilled nursing and a group of medical office buildings named Shrewsbury Medical Center. Southgate at Shrewsbury and Shrewsbury Nursing & Rehabilitation offer a combined total of 171 independent living units, 60 assisted living units and 99 skilled nursing …
QUINCY, Mass. — Nixon Peabody LLP has negotiated a Green & Resilient Retrofit Program (GRRP) transaction for Bauer House, a seniors housing community in the Boston suburb of Quincy. Wollaston Lutheran Church owns the property. The transaction also involved a Rental Assistance Demonstration (RAD) conversion and FHA-insured Section 223(f) loan originated by Hampden Park Capital and made by Lument Real Estate Capital. Bauer House, a subsidized residence for independent seniors, will use the GRRP funds and FHA-insured loan proceeds to finance a new energy-efficient HVAC system and to make accessibility …
NEEDHAM, Mass. — Regional owner-operator Wingate Living has announced plans to develop a 69-unit seniors housing project in Needham, a western suburb of Boston. One Wingate Way East will offer one- and two-bedroom units with more than a dozen different floor plans. Construction is expected to begin before the end of the year. The type of care was not disclosed.
EAST LONGMEADOW, Mass. — LCB Senior Living has assumed management of The Reserve at East Longmeadow in Massachusetts. The community opened in 2014 and features more than 100 units of assisted living and memory care.
CHESTNUT HILL, Mass. — LCB Senior Living has named Eileen Mahoney as the new executive director of The Residence at Boylston Place, an assisted living, independent living and memory care community in the Boston suburb of Chestnut Hill. With nearly 20 years of experience in senior living, Mahoney previously worked at The Current Weymouth, a Monarch Communities assisted living residence. She received her education in Business Management from Bunker Hill Community College and Northeastern University. She has also served as regional vice president for The Regus Group, formerly known as …
BROOKLINE, Mass. — MassDevelopment has issued a $39.9 million tax-exempt bond on behalf of 32 Marion Apartments LLC, an affiliate of Brookline Housing Authority, which will use proceeds to build 115 units of affordable housing for seniors and individuals with disabilities in Brookline’s Coolidge Corner neighborhood. The new one-bedroom units in the Boston suburbs will be rented to households earning no more than 60 percent of area median income ($62,340 for a one-person household) and will replace 60 outdated existing public housing units on the property. Bond proceeds will also …
SHREWSBURY, Mass. — JLL Capital Markets has arranged the sale of The Residence at Orchard Grove, a seniors housing community in Shrewsbury, a suburb just east of Worcester. JLL represented the seller, Blue Moon Capital Partners, and procured the buyer, a public REIT. LCB will continue to manage the community operations. The price was not disclosed. The Residence at Orchard Grove comprises 80 independent living, assisted living and memory care apartments. The three-story building spans 75,000 gross square feet and first opened its doors in October 2017.Jay Wagner, Aaron Rosenzweig, Rick Swartz …
WOBURN, Mass. — LCS has completed construction of The Delaney at The Vale in Woburn, a suburb north of Boston. The community features three connected buildings with 103 apartments for independent seniors, 84 assisted living apartments and 36 memory care apartments. In addition to seniors housing section, The Vale also offers new retail and office space, new landscaped areas and walking paths, preservation of 28 acres of undeveloped land, restoration of nearly 15,000 square feet of wetlands and a new connection between the site and the existing Tri-Community Greenway. Life …
BOSTON — HumanGood, the nation’s seventh-largest nonprofit, has completed its affiliation with Pleasant Spring Communities, which oversees Springhouse and Mount Pleasant Home and has provided senior living in Boston for more than a century. The plan was announced in August, but required regulatory and lender approval before it could be consummated. “Now approved, the affiliation between HumanGood and Pleasant Spring Communities will enable Springhouse and Mount Pleasant Home to enhance their operational efficiencies, streamline processes, and introduce innovative programs that further enrich the lives of residents while also providing more opportunities …
STOW, Mass. — MassDevelopment has issued $25.7 million in tax-exempt bond financing to fund renovation and expansion of Elizabeth Brook Apartments, an affordable seniors housing community in Stow, approximately 25 miles west of Boston. SEHC Elizabeth Brook Apartments Limited Partnership, an affiliate of Stow Elderly Housing Corp., is developing the project, which includes renovating the existing 50 units while adding a 37 additional units. The new building will be adjacent to the existing apartment complex and will create a campus and continuum of care. Minuteman Senior Services will provide case …