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Assisted living facility operator purchases $35.5M property

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A Bloomfield-based owner and operator of assisted living facilities has purchased a Pennsylvania property for $35.5 million, it announced Thursday.

Juniper Communities acquired Brookline Village in State College, Pennsylvania, as of the close of business Wednesday, it said in a news release. The deal, for a mix of cash and debt, expands Juniper’s size and resident capacity by 25 percent.

“This property and its outstanding reputation for excellence will greatly enhance Juniper’s overall portfolio mix and strength of offerings in the region, making it a very attractive investment,” Lynne Katzmann, Juniper’s founder and CEO, said in the release.

The property includes five buildings with 274 units, and will be named Juniper Village at Brookline.

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Eric Strauss

Eric Strauss

Eric Strauss is the digital content editor for NJBIZ. He has been a reporter and editor for newspapers in New Jersey and Pennsylvania, as well as for a number of websites. You can contact him at erics@njbiz.com or @acerimrat on Twitter.

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