BREWSTER, Mass. — Elevation Financial Group, through its Elevation Real Property Fund VII, has acquired Wingate Residences at Brewster Place, a skilled nursing facility in the Cape Cod town of Brewster.
Elevation paid $4 million for the 121,000-square-foot property.
Initial construction of the facility began in 1973, with an expansion completed in 1995. The community operated as a nursing home and skilled nursing facility before ceasing operations in 2019.
Elevation plans to reopen the property as an affordable senior living community, rebranded as Serenity Apartments at Brewster.
“The need for quality affordable housing throughout our nation is greater than ever,” says Chris King, CEO of Elevation.
Project partners include the Brewster Housing Partnership and Brewster Affordable Housing Trust.
The latest Massachusetts acquisition represents the eighth purchase for Fund VII.
The post Elevation Financial Group Acquires Skilled Nursing Facility on Cape Cod for $4M appeared first on Seniors Housing Business.
Be First to Comment