Wilton, Shelton: Two properties are being slated for the development of 250 units of “assisted living, memory care and independent housing for the elderly,” according to to Sean Cahill, Avison Young principal and managing director of the firm’s Fairfield/Westchester office.
Sean McDonnell, head of the firm’s health care real estate division, joined with senior associate Alison Luisi of Avison Young’s Capital Markets Group to arranged the $5 million sale of a 3.81-acre site from Young’s Nurseries Inc. at 211 Danbury Rd. to 211 Danbury Road LLC. The site has been approved for the development of 90 assisted living and memory care units to be operated by Sunrise Senior Living, headquartered in McLean, VA. Sunrise is one of the nation’s leading senior care providers.
In the second transaction, Cahill and Luisi arranged the $3.79 million sale of an 8-acre, pad ready site at 26 Beard Sawmill Road in Shelton. The seller was Hawk’s Ridge of Shelton LLC and the buyer was Shelter Development LLC. The site has been approved for 160 units of assisted living, memory care and independent living housing to be operated by another leading national operator, Brightview Senior Living, of Baltimore MD.
Sunrise has two existing facilities in Stamford and Brightview has a facility in New Canaan.