Cushman & Wakefield arranged the sale of the Arbors of Stoughton, a 91-unit assisted living/memory care community in Stoughton, Massachusetts, about 20 miles south of downtown Boston. Richard Swartz, Jay Wagner and Jim Dooley represented the seller, the Gralia Group of East Longmeadow, Massachusetts, and its institutional capital partner, in the transaction.
The community opened in 2009 and had seen occupancy decline during the pandemic. So, the property provided a value-add opportunity to the buyer through capital improvements and continued lease up. It consists of a three-story building with a large interior courtyard connected to the first-floor amenity spaces. The assisted living and secure memory care units had separate dedicated common spaces.
KIRCO, a full-service real estate investment firm, acquired the community in a partnership with Everbrook Senior Living, which will operate it going forward. Cushman & Wakefield also arranged the acquisition financing for the borrower with a loan covering 65% of the total costs, including purchase price and future capex, from Comerica Bank.
