Photo courtesy of Benchmark Senior Living
A pair of Massachusetts real estate firms say they are buying Newtown’s Church Hill Village assisted living and memory care community.
Benchmark Senior Living and National Development, both based in the Boston area, partnered on acquiring the 71-apartment asset and renamed it Benchmark at Newtown.
Benchmark said it will operate the facility, its 21st in Connecticut and its ninth in Fairfield County.
No deed has yet been recorded with town officials and posted publicly showing the purchase price, nor a mortgage, but Benchmark said Webster Bank provided financing
The current owner is Boston-based real estate investment firm AEW Capital Management, town real estate records show.
AEW mortgaged the property at 2 The Boulevard to Webster Bank in 2022 for $21.27 million.
Built in 2019, the Newtown asset is near the intersection of I-84 and Route 6 and adjacent to Newtown Center and its retail offerings.
It’s the third such senior housing facility in the area that National Development and Benchmark say they’ve bought together, after a new senior living community in Scotch Plains, New Jersey an assisted living and memory care facility in Smithtown, New York.
“Church Hill Village has built an excellent reputation over the past five years. 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,” Tom Grape, founder, chairman and CEO of Benchmark, said in a statement.
Benchmark operates senior living 68 communities throughout the Northeast. The company offers independent living, assisted living, memory care, respite care and skilled nursing. National Development has developed and invested in more than 33 senior living communities over the past 30 years.
“Benchmark at Newtown reflects National Development’s ongoing commitment to the senior living sector,” Andrew Gallinaro, chief investment officer at National Development, said in a statement. “We continue to seek opportunities to strengthen our portfolio and are proud to expand our longstanding relationship with Benchmark Senior Living, a proven industry leader.”
