JLL Capital Markets represented Blue Moon and LCB Senior Living, LLC in the recapitalization of the senior living community
News release
15 February 2024
The Residence at Orchard Grove sells in the greater Boston MSA
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BOSTON, Feb. 15, 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, a public Real Estate Investment Trust. LCB will continue to manage the community operations.
The Residence at Orchard Grove is comprised of 80 independent and assisted living and memory care apartments. The three-story building spans 75,000 gross square feet and first opened its doors in October 2017.
The community is located at 258 Walnut St. 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.
“This transaction was an outstanding execution between Blue Moon and our buyer with LCB maintaining exceptional performance,” said Wagner. “We appreciate Blue Moon and LCB placing their confidence in JLL to facilitate a successful sales process and we put tremendous value on our relationships with all three groups.”
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.
For more news, videos and research resources, please visit JLL’s newsroom.
About JLL
For over 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage and invest in a variety of commercial, industrial, hotel, residential and retail properties. A Fortune 500® company with annual revenue of $20.8 billion and operations in over 80 countries around the world, our more than 106,000 employees bring the power of a global platform combined with local expertise. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAYSM. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.