Benchmark Senior Living & National Development Acquire Vermont’s The Village at White River Junction
Benchmark Adds 70th Northeast Senior Living Community & Ninth in Northern New England
Benchmark Senior Living, a leading senior living provider in the Northeast, and National Development, a prominent real estate investment, development and management firm, announced today the acquisition of The Village at White River Junction in White River Junction, Vermont through a joint venture. Benchmark will operate the 80-apartment assisted living and memory care community conveniently located near the New Hampshire border and a short drive from Dartmouth College in Hanover, NH.
The acquisition was completed through a joint venture between National Development and Benchmark with financing provided by M&T Bank. Benchmark also operates six communities throughout New Hampshire and The Arbors at Shelburne in Shelburne, Vermont. This acquisition marks National Development’s first senior living community in Vermont.
Located within walking distance to the Connecticut River, White River Junction’s Main Street and the historic district, The Village at White River Junction offers 87,000 square feet of living space spread across five floors. Residents enjoy walking to nearby places of worship, shopping, restaurants, museums and a performing arts center. Just over the river, West Lebanon, New Hampshire offers a wide variety of dining and recreational opportunities.
“The Village at White River Junction is a very special community and we feel honored to work together with its experienced associates to usher in this new chapter,” said Tom Grape, founder, chairman and CEO of Benchmark Senior Living.
Benchmark operates 70 independent living, assisted living, memory care, and continuing care retirement communities throughout New England and in the Mid-Atlantic.
National Development is a long-time industry leader in senior housing, having successfully developed and invested in more than 33 communities over the past 30 years. National Development’s senior housing portfolio includes a variety of living options including independent living, assisted living and memory care. With developments spanning the Boston-to-New York corridor, the firm has been recognized as an industry leader and its properties have produced seven national awards for best senior housing design.
“Our expansion into Vermont represents an exciting next step in National Development’s long-term commitment to senior housing across Northern New England. The Village at White River Junction is a remarkable community, and we are proud to continue our strong partnership with Benchmark in bringing high-quality living options to this region,” said Andrew Gallinaro, National Development’s chief investment officer.
The Village at White River Junction’s deep commitment to arts and culture is reflected throughout the community. Frequent exhibitions, performances and classes are offered in a wide variety of spaces, including a live performance venue, art gallery, art studio and movie theatre. The community also features several dining venues, community kitchens, a salon and spa, fitness center, conservatory, library, spacious living areas and more. Residents enjoy a rooftop terrace offering beautiful views of the surrounding hills, as well as several patios, some enhanced with raised garden beds.
In addition to a wide range of amenities and programs, residents who need it can take advantage of 24/7, personalized daily living support and nursing care, chef-prepared meals served restaurant-style, laundry service and housekeeping. Fifty assisted living apartments are available in one or two-bedrooms with one or two bathrooms and have a kitchenette with full-sized refrigerator. Thirty second floor memory care studios have a full bathroom.
The Village at White River Junction’s innovative structural design and architecture has earned many awards. Traditional Vermont materials and patterns, such as brick, wood and steel have been used to seamlessly blend into the surrounding wooded hillside and urban fabric and a nod to the area’s industrial past. Large windows bring in ample light, offering residents ideal views and sensory experiences.
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