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MALDEN, MA-New England Deaconess Association has acquired MaldenMedical Center, a five-building, 400,000-sf complex on 19 acreshere for $12 million. Under its new ownership, the hospital campuswill be renamed Parkview on the Fells and redeveloped into 224independent living apartments, 14 independent cottages, 45 assistedliving units and 16 Alzheimer units. As a continuing careretirement community, residents also will have access to assistedliving, skilled nursing care and memory support services.

Meredith & Grew's Kristin E. Blount tells GlobeSt.com thatthe property attracted interest from healthcare users who weredrawn by the facility's prior use as a hospital and its locationnext to a family health center and a senior care facility. "Therewere lots of community living, senior living and other groups thatcomplemented the healthcare use" interested in the site. Blount andcolleagues Thomas J. Hynes Jr. and Robert E. Cronin handled thetransaction for the seller, Hallmark Health Systems Inc., acommunity-based, nonprofit healthcare system serving Boston'snorthern suburbs.