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$13M Package Funds Plymouth Assisted Living

PLYMOUTH, MA- Northbridge Plymouth Assisted Living receives the financing to develop an 85-unit community. The developer will gut a former nursing home to develop the units.

By Beverly Ford | Updated on October 25, 2006

(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.

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