33 Mount Pleasant Ave. in West Orange — Courtesy: Sherman & Roylance
By Joshua Burd
A private operator hopes to revitalize a shuttered assisted living facility in West Orange after acquiring the 53-bed property, according to a broker with Sherman & Roylance.
The buyer, which paid an undisclosed price in the recent deal, plans to invest in significant renovations to modernize and reopen the 30,000-square-foot building at 33 Mount Pleasant Ave., according to a news release. The transaction follows last year’s closure of the 44-unit facility, which had been operated as an affiliate of the not-for-profit Heath Village of Hackettstown, providing a new opportunity for the former Canterbury Village.
George Bingham of Sherman & Roylance represented the seller, Provident Bank, in the deal. He also facilitated Heath Village’s deed-in-lieu transfer to the lender ahead of the sale to an entity led by industry veterans Scott Burman and Lorne Schechter.
“This complex, multistep transaction signifies the continued resilience and growth of the senior living sector,” Bingham said. “We’re confident that the new owners have the vision and expertise to create something truly special in West Orange.”
Sherman & Roylance noted that the single-story building sits on more than two acres.