Blue Moon Capital Sells Boston-Area Senior Community
LCB Senior Living will continue to manage the 80-unit property.
Blue Moon Capital Partners has sold The Residence at Orchard Grove, an 80-unit senior housing community in Shrewsbury, Mass. A REIT purchased the property with independent and assisted living, as well as memory care units. LCB Senior Living will be retained as operating manager.
JLL Capital Markets brokered the transaction, with Senior Managing Directors Jay Wagner, Aaron Rosenzweig and Rick Swartz, along with Director Jim Dooley working on behalf of the seller and procuring the buyer.
Blue Moon recently acquired Residence at Valley Farm, an 80-unit senior housing community in Ashland, Mass. JLL Capital Markets also arranged the recapitalization transaction.
Located at 258 Walnut St., The Residence at Orchard Grove is near the intersection of Route 9 and Route 20, which provides direct access to downtown Boston.
A combination of wellness and technology
The Residence at Orchard Grove came online in 2017, with the three-story building spanning over 75,000 square feet. The community comprises independent living, assisted living, memory care and respite care units with studios, one- and two-bedroom floorplans. Common-area amenities include a fitness room, a spa, living rooms, a library, a restaurant-style dining room, a bistro, entertainment spaces, landscaped grounds and walking paths.
The Residence at Orchard Grove provides housekeeping services, maintenance services, complimentary transportation, health clinics and personalized wellness plans, 24/h staff and security and modern emergency call and safety systems.
The community also includes LCB’s Reflections Memory Care services for residents with Alzheimer’s disease and other memory impairments. Resident health, wellness and technology will continue to be a top priority and will play key roles going forward in the senior housing sector.
