Press Release


BOSTON, MA (March 14, 2016) —Blue Moon Capital Partners LLC (“Blue Moon”) and LCB Senior Living, LLC (LCB) announced today their formation of a joint venture for the development of an 80-unit independent living, assisted living and memory care community in Shrewsbury, MA to be known as The Residence at Orchard Grove. This marks the second joint venture between Blue Moon and LCB, and third among LCB and Blue Moon colleagues; further establishing their strong relationship.

Headquartered in Boston, Massachusetts, Blue Moon focuses exclusively on the senior housing sector.  Blue Moon’s team has a combined 40 years of experience in senior housing finance and operations.  In December 2014 Blue Moon secured a $175 million capital commitment from Scout Fund II through Hawkeye Partners, LP out of Austin, TX to form BMSH I.  Of this Shrewsbury investment, Blue Moon Co-founder and Managing Partner, Kathryn Sweeney, stated:  “We are pleased to form this joint venture with LCB, whose principals we have known for nearly 20 years.  LCB’s talented team of senior living development and operating professionals are passionate about and committed to the industry.  We are proud to have partnered with such a skilled and accomplished team again, excited to see the Shrewsbury community take shape over the next year, and look forward to growing our strong relationship.“

LCB Senior Living is one of New England’s fastest-growing owner/operators of independent, assisted and memory care communities for seniors.  The company currently has built or is building 17 communities throughout New England, and has four others under third-party management. LCB is comprised of the former management team of Newton Senior Living, which was the 16th-largest assisted living company in the nation at the time of its sale to Lazard Freres in 2005.  LCB is developing and acquiring a robust portfolio of senior housing communities in the New England market, and is expanding into the Mid-Atlantic region.  Since it recapitalized its organization in early 2013, it has broken ground on 11 properties and acquired an additional six properties across five New England states totaling over $420 million in project capitalization.  The Residence at Orchard Grove is LCB’s 11th senior housing developments since 2013. To date, LCB owns and operates 1,528 seniors housing beds, 467 of which are currently under construction. 

“Shrewsbury is an excellent market for LCB, and we could not be happier to be moving forward,” commented Michael Stoller, CEO of LCB.  “Our tremendous growth has been fueled by great partnerships, and Blue Moon has been a very strong asset to us.”


About LCB
LCB Senior Living was founded in 2010 by the management team of the former Newton Senior Living, LLC (NSL).  NSL was one of the first assisted living developers and operators in Massachusetts, and was the 16th-largest assisted living company in the United States when it was sold to a division of Lazard Freres in 2005.  Headquartered in Norwood, MA, LCB currently manages four communities in the greater Boston area, owns and operates 12 communities in Massachusetts, New Hampshire, Connecticut, Vermont and Rhode Island, and has an additional five properties under development in Massachusetts, New Hampshire and Vermont.

About Blue Moon Capital Partners
Headquartered in Boston, Massachusetts, Blue Moon Capital Partners focuses exclusively on the senior housing sector matching institutional investors with leading senior housing operating companies. Investment strategies span the risk spectrum from development/repositioning to stabilized, core investments. Blue Moon is led by senior housing specialist Kathryn Sweeney and institutional capital markets specialist Susan Barlow. For more information, visit Blue Moon Capital Partners’ website

Matt Ryan