Marlborough, Framingham senior living facilities sold for combined $30M
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The Branches of Marlborough was one of two MetroWest senior living communities sold to a Kentucky-based firm for a combined $29.8 million.
Two MetroWest senior living facilities are now under the ownership of a Kentucky real estate investment trust, following two separate transactions totaling $29.8 million.
Entities managed by Ventas, a Louisville-based firm investing in senior housing and medical facilities, purchased The Branches of Marlborough and The Branches of Framingham in separate transactions finalized onFriday, according to Middlesex South Registry of Deeds records.
The properties were purchased from entities managed by Benchmark Senior Living, the company which has owned and operated both facilities since they opened in the late 2010s. Benchmark owns and manages facilities across New England and New York.
Benchmark will continue to manage the two properties after the sale to Ventas, said David Levesque, senior director of corporate communications for Benchmark.
The Branches of Marlborough was constructed in 2019 at 421 Bolton St., the former site of a Christmas tree farm adjacent to Marlborough High School. The 58-unit assisted-living facility was designed by Udelsman Associates of New Hampshire and constructed by Dellbrook | JKS of Quincy, according to Dellbrook |JKS’s website. Ventas purchased the 5.5-acre property for $12.8 million.
The Branches of Framingham is located at 518 Pleasant St. on the former grounds of the Marist House, a former Catholic retreat which closed its doors in 2011. The Branches was also designed by Udelsman Associates and constructed by Dellbrook | JKS. Finished in 2018, the property has 52 units on 8.6 acres of land. Ventas purchased the property for $17 million.
In addition to its two Branches locations, Ventas owns Central Massachusetts senior living in Shrewsbury and Hopedale. The firm is publicly traded on the New York Stock Exchange and a S&P 500 company with more than $5 billion in assets under management, according to its website.
The Branches of Marlborough was given a tax assessment value of $9.11 million for 2024, while The Branches of Framingham was given an assessment value of $16.52 million, according to municipal property records.
Eric Casey is the managing editor at Worcester Business Journal, who primarily covers the manufacturing and real estate industries.
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