Boston, Massachusetts (January 22, 2024) — JLL Capital Markets announced today that it arranged the sale of the Residence at Orchard Grove, a senior community with independent and assisted living and memory care in Shrewsbury, Massachusetts.
JLL represented the seller, Blue Moon Capital Partners, and procured the buyer, Ventas. LCB will continue to manage the community operations.
The Residence at Orchard Grove is comprised of 80 Independent and Assisted Living and Memory Care units. The fully leased, three-story building spans 75,000 gross square feet and first opened its doors in October 2017.
The community is located at 258 Walnut Street and boasts multiple arteries to Boston, including the commuter rail line, Route 9, and Interstate 495 which leads to the Mass Pike.
The JLL Capital Markets team was led by Senior Managing Directors Jay Wagner, Aaron Rosenzweig and Rick Swartz and Director Jim Dooley.
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, Massachusetts-based company 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.