National Development Sells Waterstone And Bridges Lexington Senior Housing For $139.45M

The transaction involved the sale of two senior living communities, Waterstone and Bridges Lexington, located at 53-55 Watertown Street and 56 Watertown Street in Lexington, MA. These properties had a total of 204 units, including a 48-unit memory care facility and a 156-unit independent/assisted living building. The total sale price for these communities was $139,450,000, translating to a per unit price of $683,578.

Summary of transaction details:

• Property Type: Senior Housing
• Transaction Amount: $139,450,000
• Units: 204
• Seller: Brian Kavoogian - National Development

Brian Kavoogian, representing National Development, was the seller in this transaction, marking a significant change in ownership for the senior living communities in Lexington, MA. The properties feature amenities that include an indoor pool, fitness center, movie theater, and art studio, catering to the needs of senior residents.