STOUGHTON, Mass. — Cushman & Wakefield has arranged the sale of the Arbors of Stoughton, a 91-unit assisted living and memory care community in Stoughton, 20 miles south of downtown Boston.
Richard Swartz, Jay Wagner and Jim Dooley represented the seller, the Gralia Group of East Longmeadow and their institutional capital partner, in the transaction. The buyer was KIRCO in a partnership with Everbrook Senior Living, which will operate the community going forward.
Cushman & Wakefield also arranged the acquisition financing for the borrower, with a loan of 65 percent of the total project costs, including purchase price and future capital expenditures. Comerica Bank provided the capital. The acquisition price and amount of financing were not disclosed.
The community opened in 2009 and is central to its high-density primary submarket that includes the Boston suburbs of Stoughton, Canton, Sharon and Norwood, with access throughout the region via major highways and rail system connecting Boston, Providence and Cape Cod. Occupancy declined during the pandemic and the property provides a value-add opportunity to the buyer through capital improvements and lease up, according to Cushman & Wakefield.
The property is a three-story rectangular building with a large interior courtyard connected to first-floor amenity space in the front and rear of the community. The community offers assisted living care and secure memory care services with dedicated common spaces for each care level.