Boston, Massachusetts (December 20, 2022) — Blue Moon Capital Partners and LCB Senior Living announced the acquisition of Traditions of Wayland, formerly the historic Paine Estate, a senior living community in Wayland, which will undergo significant renovations and be renamed to honor its past. Traditions will become The Residence at Paine Estate, while undergoing a sweeping, multimillion dollar renovation to honor the spirit of its iconic namesake.
“While we cannot recreate history, we have the rare opportunity to revive it at the Paine Estate,” said Ted Doyle, vice president at LCB Senior Living. “Beautiful new buildings are created every day, but the history and richness of the Paine Estate could never be recreated. New Englanders save money their entire lives to live in grand old houses, and The Residence at Paine Estate will be just that for our residents: providing the great care, comfort and social environment that they deserve.”
Frank Paine, the son of a Civil War general, earned his fortune by investing in the nation’s budding railroad system. He was also a skilled yachtsman and game hunter. His travels, especially his hunting expeditions, returned many souvenirs, which once decorated the estate’s “Great Room.” The town of Wayland came to cherish the estate, thanks in part to his wife Virginia Paine who hosted the Wayland Woman’s Club at the property.
“This local treasure embodies its rich past from top to bottom. It’s so close to history you feel that Frank Paine might be just around the corner,” said Charlene Keough, the community’s Executive Director. “We are honored to preserve the estate’s rich traditions and heritage for Wayland, developing the site to pay homage to its historic splendor and to encapsulate a period so revered by residents and the entire town.” The Paine home was transformed into Traditions of Wayland in the 1990’s and sits adjacent to the Greenways Conservation Area, a gift to the town comprising the majority of the former estate.
Founded in 2011, LCB Senior Living owns and/or operates 35 senior living communities throughout New England and the Mid-Atlantic with additional properties in development. The Norwood, MA-based company is the fastest-growing senior living provider in the region. It offers independent and assisted living services to more than 2,000 seniors, along with its renowned Reflections Memory Care program for those suffering from Alzheimer’s disease and other dementias.
Blue Moon invests exclusively in senior housing on behalf of institutional investors through a series of commingled funds and separate accounts. Blue Moon’s leadership team has over 65 years of experience in senior housing finance and operations and is headquartered in Boston, Massachusetts. More information can be found at www.bluemooncp.com.