October 7, 2020
A joint venture comprised of Taurus Investment Holdings and Northbridge Cos. has acquired a six-property, 507-unit senior housing portfolio in suburban Boston for approximately $200 million.
The portfolio consists of assisted living and memory care facilities and is operated by Northbridge, a developer, owner, operator and asset manager of senior living communities. The acquisition marks Taurus’ first investment into the senior housing sector. Newmark Knight Frank represented the seller, Welltower, in the transaction.
“Taurus is thrilled to have been able to capitalize on the opportunity to acquire an institutional quality portfolio,” said Peter Merrigan, CEO at Taurus. “We believe that the demand for high quality senior housing will remain strong in the coming years with the upcoming demographic shift as the 75+ population continues to accelerate. I am incredibly proud of our team’s and our partners’ ability to navigate the current market turbulence and successfully bring this to the finish line.”
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