The Residence at Valley Farm in Ashland, MA recapitalized

BOSTON, Jan. 9, 2024 –  JLL Capital Markets announced today that it arranged the successful recapitalization transaction of the Residence at Valley Farm, a senior living community owned by Bridge Investment Group and LCB Senior Living, LLC.

JLL represented the seller, Bridge Investment Group, and procured the buyer, Blue Moon Capital Partners. Blue Moon has retained LCB as operating manager.

The Residence at Valley Farm is located on Pond St. in Ashland, a wealthy bedroom community 25 miles west of Boston that provides access throughout the region via the commuter rail station in town and the nearby Massachusetts Turnpike (I-90). The suburb offers relative affordability to the Boston MSA while maintaining excellent income demographics locally and is in prime proximity to the nearby 495 Tech Corridor and several corporate headquarters located in the Metro West submarket. The Residence at Valley Farm has a premier location between two large mixed use residential developments as part of an approved revitalization to Pond Street in Ashland.

The community is a Class A assisted living community situated on a spacious 2.88-acre site. The property was built in 2015, incorporating modern architectural elements and design concepts, and offers a total of 80 units at stabilized occupancy. The three-story community enjoys a tranquil and secure environment, enhanced by well-maintained landscaping and numerous amenities. The property was developed by LCB Senior Living and has now been recapitalized twice while remaining under LCB’s management since its delivery.

The JLL Capital Markets Investment Sales and Advisory team was led by Senior Managing Directors Jay Wagner and Rick Swartz and Director Jim Dooley.

“Valley Farm has shown an impressive recovery in occupancy over the last year and has resulted in a mutually beneficial trade for both Bridge and Blue Moon in a challenging market.  LCB’s management has been exceptional at the community and should be a seamless addition to the existing relationship with Blue Moon,” said Wagner.

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

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Formed in 2010, LCB Senior Living is a vertically integrated senior housing investment and operating company with 36 properties owned and/or managed throughout the northeast. LCB’s strategy is to develop, acquire, and operate institutional quality private-pay assisted living and memory care residences in the Northeast corridor with emphasis on New England, Metro New York / Northern New Jersey, and the greater Philadelphia and D.C. areas.  LCB targets acquisition and development opportunities within undersupplied communities in both urban and suburban markets displaying attractive long-term demographics. The LCB Senior Living team has more than 20 years of experience in identifying, acquiring and entitling land as well as executing the full spectrum of development activities from product design through construction completion and lease up. With that experience as assisted living managers, the team has developed an operations philosophy focused on community relationships and resident-centered care.