Thank you for sharing!

Your article was successfully shared with the contacts you provided.

(To read more on the multifamily market and the debt and equity markets, click here.)

PLYMOUTH, MA- Northbridge Plymouth Assisted Living, LLC, an affiliate of the Northbridge Cos., has received $13 million in acquisition and construction financing to develop Stafford Hill Assisted Living Community, an 85-unit property.

The Burlington developer of assisted living and active adult communities plans to construct the units on the 6.1-acre site of a former nursing home at 60 Stafford St. Northbridge Plymouth Assisted Living plans to gut the existing nursing home for the new units and is also considering expanding the project at a later date to include 52 for-sale, independent living units.

Bill Kauffman, a healthcare finance specialist and vice president with Capmark Finance tells GlobeSt.com that Northbridge’s reputation as a developer of senior housing helped secure the loan for the firm. “Their experience in managing, developing and turning around senior housing communities really attracted us to the transaction,” he says.

Capmark Finance arranged the financing through Capmark Bank. The project is scheduled for completion in 2007, Kauffman says.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt. Apartments 2020Event

Join 1000+ of the industry's top owners, investors, developers, brokers & financiers at THE MULTIFAMILY EVENT OF THE YEAR!

Get More Information


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.