Holliday Fenoglio Fowler, L.P. (HFF) recently closed the $63.25 million sale of two senior living properties in Massachusetts to Benchmark Senior Living with joint venture partner Health Care REIT (NYSE:HCN).
The 176-unit senior living portfolio was marketed by HFF on behalf of AEW Capital Management. The properties have been renamed to Benchmark Senior Living at Robbins Brook and Benchmark Senior Living at Forge Hill.
The 79-unit Robbins Brook property is an assisted living community in Acton, Mass., about 30 miles northwest of downtown Boston. The 97-unit Forge Hill property includes assisted living, independent living, and memory care and is located in Franklin, Mass. around 45 minutes southwest of downtown Boston.
Both communities were above 90% occupancy at the time of sale.
“Benchmark is a well-suited successor to Forge Hill Senior Living and The Inn at Robbins Brook for a number of reasons. These communities have a reputation for providing quality care, a deep-rooted tradition of providing resident-centered services and are located in our New England market,” said Benchmark’s President and COO Stephanie Handelson when the acquisition was announced a few weeks ago. “We are excited about the opportunity to serve seniors and their families in these areas with the Benchmark commitment to excellence.”
The HFF team representing the seller was led by managing director Ryan Maconachy and director Chad Lavender.
Written by Alyssa Gerace