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Welltower Acquires Newbury College Campus for $34M
Real estate investment trust Welltower acquired the former Newbury College Campus in Brookline for $34 million. The nearly eight-acre campus was offered for sale in February of 2019 and branded as The Common at Fisher Hill. The campus consists of eight existing structures, totaling 142,000 square feet.
Christopher Sower, James Elcock, Tom Hynes and Bob Cronin of Colliers International represented the seller, Newbury College, in the transaction. Welltower primarily invests in senior housing, assisted living, memory care, post-acute care and medical office projects.
“We enjoyed working side-by-side with Newbury College in vetting potential buyers of the campus and ultimately deciding on the one whose intentions best aligned with the college’s goals,” said Sower.
“While it is always unfortunate to witness the closure of such an esteemed academic institution, we appreciate the opportunity it has created for Brookline to embrace a new type of use that will serve the community,” said Elcock.
For comments, questions or concerns, please contact David Cohen
- ◦Sale/Acquisition
