Bloomfield-based Juniper Communities has added to its portfolio of managed and owned senior housing communities, with the acquisition of a Chestnut Hill, Pennsylvania, residence.
The Terrace at Chestnut Hill adds 70 personal care units and 33 memory care units to Juniper’s portfolio, becoming the company’s 12th senior housing building in Pennsylvania.
“We are very excited to extend our signature programs to benefit residents and their families, the team of associates and the professional health care community,” Juniper founder and CEO Lynne S. Katzmann said in a prepared statement.
The community employs 95 people, and Juniper said it is striving to retain them.
“Expanding our presence in the Pennsylvania market enables Juniper to consolidate market share and pilot additional ancillary services within a concentrated hub,” Katzmann said.
The property at 495 E. Abington Ave., will now operate as The Terrace at Chestnut Hill, a Juniper Managed Community.
Financial terms of the acquisition were not disclosed.
