"We are thrilled to announce the acquisition of Hamilton Heights Place," said Michael A. Stoller, president and chief executive officer of Newton Senior Living. "This is a spectacular property in a great location, and is a strong addition to our portfolio. NSL is in the midst of a growth strategy through which we hope to acquire similar high-quality residences in the coming months."
The firm, which has its corporate headquarters at 100 Second Ave. here now owns and/or operates 13 residences throughout Massachusetts, Rhode Island and Connecticut, comprising 1,184 units and 1,270 beds. Stoller tells globest.com that Newtown Senior Living first became aware of the property being on the market for sale last October. He said the company got "a good price" and termed the acquisition a "strategic purchase."
Hamilton Heights Place was originally constructed in 1908 as the Mt. Saint Joseph Academy, a boarding school for girls. The large, stone and slate-roofed structure was placed on the National Register of Historic Places in 1983.
Situated on 10.3 acres, the 149,000-sf facility includes a mix of one-bedroom, two-bedroom and studio apartments, along with 11 memory impairment units, company officials say. Stoller says that a capital improvement program will be instituted at the site, which is currently 60% occupied, mainly focusing on improvements to the community's heating system and parking facilities.
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John Jordan
John Jordan is a veteran journalist with 36 years of print and digital media experience.
