A joint venture of Benchmark Senior Living and National Development acquired Church Hill Village in Newtown, CT. Renamed Benchmark at Newtown, the 71-apartment assisted living and memory care community will be operated by Benchmark.
With financing provided by Webster Bank, the Newtown deal follows Benchmark and National Development’s recent partnership on a new senior living community in Scotch Plains, NJ, and the acquisition of an assisted living and memory care facility in Smithtown, NY. Located in Fairfield County, the Newtown community is located at 2 The Boulevard, near the intersection of I-84 and Route 6.
“Church Hill Village has built an excellent reputation over the past five years,” said Tom Grape, founder, chairman and CEO of Benchmark. “Benchmark is excited to be serving more seniors and families in Fairfield and the surrounding area – providing the high-quality care and services Benchmark is known for.” The company operates nine facilities in Fairfield County.
Rental housing affordability declined in 82% of U.S. metropolitan areas between 2014 and 2023, with renters experiencing the equivalent of an average $256 annual reduction in income after accounting for changes in housing quality. That’s according to a new report released Tuesday by the Mortgage Bankers Association’s Research Institute for Housing America. The report, Housing...
Learn more
Ponderay Apartments, a 40-unit multifamily property located at 5625 15th Ave NE in Seattle’s University District, sold for $6.26 million, equating to $156,625 per unit. Built in 1963, the property totals 21,540 square feet and consists of 22 one-bedroom units and 18 studio apartments. The studios average 478 square feet, while the one-bedroom units average...
Learn more
TruAmerica Multifamily acquired Bricks at Perimeter Center for $120 million. Clark Ventures was the seller of the 446-unit, garden-style apartment community in Atlanta’s Perimeter Center submarket. Clark paid $69.5 million for the property in 2016. TruAmerica will revamp nearly all of the rooms in the complex, which was built in 2007. The company plans to incorporate...
Learn moreRe/Max Real Estate Professionals
Central CA Commercial | California
Recckio Real Estate & Development
Northgate Real Estate Group
California
California