A senior living operator led by a couple of industry veterans, Scott Burman and Lorne Schecter, purchased an assisted living community in West Orange, New Jersey. The former Canterbury Village features 44 units and 53 beds but closed its doors in mid-2023. It had been previously operated by an affiliate of the not-for-profit Heath Village of Hackettstown, New Jersey, but ownership had transferred to Provident Bank by the time of the sale. George Bingham of Sherman & Roylance represented Provident in the deal and played a key role in facilitating the deed-in-lieu transfer to the bank.
The buyer plans to invest in significant renovations, modernizing the space while continuing to operate it as a senior living community. No other details were disclosed.
