News: Front Section
Posted: February 23, 2024
JLL represents Blue Moon Capital Partners in sale of The Residence at Orchard Grove
Shrewsbury, MA JLL Capital Markets has arranged the sale of The Residence at Orchard Grove, a senior community with independent and assisted living and memory care. The sale price was not disclosed.
JLL represented the seller, Blue Moon Capital Partners, and procured the buyer, a public real estate investment trust. LCB Senior Living, LLC 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 s/f 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, Rte. 9, and I-495 which leads to the Mass Pike.
The JLL Capital Markets team was led by senior managing directors Jay Wagner, Aaron Rosenzweig, 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.
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