Westport Group Sells Off Last Property in $83 Million Senior Housing Portfolio

An investor group led by affiliates of Westport Capital Partners LLC recently announced it has closed on the sale of a senior housing property to a publicly traded senior housing property owner-operator. The property, The Inn at Fillmore Pond, represents the fourth and final sale of a four-facility portfolio, acquired in April 2007 by the Westport Group for $83 million.

Known as the New England Healthcare Portfolio, the properties were acquired in partnership with Capital Health Group and Kaplan Development Group, and provide independent and assisted living as well as dementia care services.

Total sales for the portfolio, which included The Inn at Fillmore Pond in Bennington, Vt., The Inn at Forge Hill in Franklin, Mass., The Inn at Robbins Brook in Acton, Mass., and The Inn at Spruce Wood in Durham, N.H., all of which have now been sold, came to about $210,000 per unit.


The Westport group added 14 independent living cottages and a 28-unit dementia wing expansion to The Inn at Fillmore Pond before selling it; the ownership group says it has nearly doubled its net income in the four years since the acquisition due to cumulative portfolio improvements.

“This investment is consistent with Westport’s pursuit of healthcare related assets where we can create value through active management and asset repositioning in partnership with strong local operating partners,” Jordan Socaransky, Principal at Westport, said in a press release. “The operating improvements and facility expansions we undertook led to improved performance at each of the properties and have resulted in a successful exit for the partnership.”

Written by Alyssa Gerace