$23M financing backs acquisition of luxury senior housing in Newtown, CT

Through its new Joint Venture partnership, National Development and Benchmark Senior Living were seeking cost-efficient, competitive terms on an expedited basis to acquire the Church Hill Village in Newtown, now renamed Benchmark at Newtown, a 71-apartment assisted living and memory care community located in its core northeast market.

Webster as incumbent lender was able to provide optimal leverage on competitive financing terms that achieved the sponsors investment objectives and strategic acquisition in its core New England market.

“Webster Healthcare’s market knowledge and mutual long-term commitment to senior living sector was instrumental in selecting them to support this strategic acquisition for our seniors housing joint venture.  We are pleased with our longstanding partnership with Webster Healthcare and excited to work with them as we continue expand our investment platform.” – Bryan J. Clancy, Principal, Director of Capital Markets