News: Front Section
Posted: May 13, 2016
Monarch Homes sells two memory care communities for $29.2 million
Monarch Homes - Woburn, MAWobrun, MA Monarch Homes, LLC, a partnership between The Maggiore Companies and The Winchester Companies, recently consummated the $29.2 million sale of a portfolio consisting of two memory care communities located in Woburn and Weymouth. The purchaser was a joint venture between Garrison Investment Group, Grand Park Capital Management and Focus Healthcare Partners LLC. The deal was arranged by Cushman & Wakefield Senior Housing Capital.
Principal of the Winchester Cos., Dave Errico, contacted Maggiore Contraction Corp. in 2010 for design/build services. “David needed a partner,” said Maggiore’s CEO, Paul Maggiore, “and we get along very well, so it made sense for us to team up.” Errico spent 15 years developing assisted living facilities in the Northeast. At Errico’s direction, Maggiore’s in house design team completed the design of the two facilities and Maggiore Construction Corp., headed by Matthew Maggiore, president and David Mann, director of construction, was the general contractor.
Monarch Homes - Weymouth, MAThe Maggiore Companies is a forty year old commercial and residential real estate development firm that has developed and currently manages commercial real estate in eight different communities throughout Massachusetts. Maggiore is active in the development of large scale flex office warehouse facilities and multi-family residential condominium facilities. Maggiore Construction Corporation builds for Maggiore’s portfolio as well as for select outside clients.
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