Harrison Street Picks Up Boston-Area Senior Asset
The 90-unit community in Watertown, Mass., offers independent and assisted living, along with memory care services. Feb152021
Image via Google Maps
Harrison Street Real Estate Capital, along with partner LCB Senior Living, has purchased The Residence at Watertown Square, a 90-unit senior community in Watertown, Mass. Newmark arranged the acquisition financing for the buyers. Last September, LCB broke ground on The Residence at Penniman Hill, another 90-unit senior community outside of Boston.
According to the
New England Real Estate Journal, LCB is the original developer of the asset that broke ground in mid-2013 and opened its doors in 2014. Three years after its completion, LCB along with Washington Capital Management received a $45 million recapitalization loan, arranged by Cushman & Wakefield, as reported by
Ryan Cos. Tops Off Luxury Senior Community in Missouri
The 13-story building in suburban St. Louis will offer independent and assisted living, and memory care services. Jan272021
Rendering courtesy of Ryan Cos.
Ryan Cos. is nearing completion on its $120 million senior project outside of St. Louis, Mo. Developed in a joint venture with Life Care Services TM an LCS Company and Harrison Street Real Estate Capital, the 281-unit Clarendale Clayton has topped off and is expected to be fully completed this summer.
The 13-story luxury property is Ryan’s second investment in the area and will include 195 independent living, 66 assisted living and 20 memory care units. Additionally, the building offers 1,500 square feet of ground-floor retail space on the corner of Hanley and Clayton Roads.