July 5, 2019
WALPOLE, MA–Washington Trust’s Commercial Banking Group recently provided $30 million to Benchmark Senior Living for the refinancing of its New Pond Village continuing care community in Walpole, MA.
The community, which sits on 19.4 acres just 19 miles south of Boston, last year celebrated the completion of an $8 million renovation and the opening of its Mind & Memory™ neighborhood, becoming the first community in Walpole to offer support for those with Alzheimer’s or other cognitive impairment. Additional upgrades included new dining and common areas on the lower level. In 2018, Wicked Local bestowed a Reader’s Choice Award upon New Pond Village citing it the “best retirement living residence” in the region.
“Benchmark and New Pond Village are gratified by the investment Washington Trust has made in this lovely community,” saidSarah Laffey, Benchmark’s Chief Investment Officer. “Walpole families have experienced the human connection and compassionate care that our associates have provided to residents and families over the years, and this investment can help assure them that New Pond Village will be here for generations to come.”
With 167 independent living units, New Pond Village offers homes for active seniors who are looking to socialize, stay active and who no longer want the worry of owning a home. The independent living units comprise 57 one-bedroom and 110 two-bedroom apartments. The community also offers 17 assisted living units where residents receive assistance with the activities of daily living, such as dressing, bathing and taking medications.
“Washington Trust is appreciative to again have the opportunity to partner with Benchmark on this beautifully renovated community in Walpole,” said Scott McCaughey, Vice President of Commercial Banking. “The newly renovated common areas and apartments offer the state-of-the art amenities important to the residents living in this wonderful community.”
Based in Waltham, MA, Benchmark is a human connection company and leading provider of senior housing in the Northeast with 6,400 associates and 58 communities offering independent living, assisted living, Alzheimer’s care and continuing care retirement communities across eight states.
Washington Trust’s Commercial Banking Group provides multi-million financing to leading businesses, manufacturers, hospitals, and educational institutions throughout the Northeast.