Benchmark Senior Living Expands Massachusetts Portfolio
With Cushman & Wakefield representing the seller, an institutional investor, the buyer, a Waltham, Mass.-based senior living company, acquired New Pond Village in suburban Boston.
By Alexandra Pacurar
Cushman & Wakefield brokered the sale of New Pond Village, a 199-unit senior living community in Walpole, Mass. The buyer is a joint venture of Benchmark Senior Living and Farallon Capital Management.
Executive Director Allen McMurtry and Senior Directors Paul Carr, David Kliewer and Megan Fetter in Cushman & Wakefield’s Tampa office represented the seller, BH Brightview New Pond Village LLC.
“We are delighted to embrace the New Pond Village community of residents and families. We are especially happy to welcome the experienced 120-member team of leaders and associates—many of whom have been at New Pond Village for years—into the Benchmark family,” Tom Grape, Benchmark chairman & CEO, said in prepared remarks.
Located at 180 Main St., New Pond Village is an entrance-fee continuing care community offering independent living and supportive living. The 259,000-square-foot property includes 167 independent living units and 32 supportive living units. The three-story building was built in 1990 on a 19.4-acre lot.
Residents at New Pond benefit from a dining plan with chef-prepared meals, 24-hour concierge service and scheduled transportation with drivers on duty daily.
Benchmark now owns nearly 30 properties in Massachusetts and 54 throughout the Northeast region.
Image courtesy of Cushman & Wakefield