Aspen eBrochure - The Aspen Group

Transcription

Aspen eBrochure - The Aspen Group
TABLE OF CONTENTS
1.
Company Profile
2.
Partners Resumes
3.
Description of Services
4.
Client List
5.
Project Fact Sheets / News Releases
1. COMPANY PROFILE
COMPANY PROFILE
THE ASPEN GROUP is a full-service real estate advisory company specializing
in creating value for our institutional, healthcare, and non-profit clients by
providing sophisticated and comprehensive solutions to their distinct real estate
needs. Founded in 1992, our strength is a tradition of pursuing the highest
professional standards and sensitivity to the particular requirements of each
client. Teamwork is an essential component of our philosophy.
The partners in Aspen have over seventy-five (75) years of combined experience
in all facets of real estate development, across a broad range of product types,
and through the volatile cycles of the development business. We are a wellcapitalized, mid-sized firm directed by three active partners and a qualified
support team. Our business philosophy is best described as service-oriented,
entrepreneurial, nimble, and innovative.
TWO BUSINESS MODELS:
PROJECT M ANAGEMENT AND FEE-BASED ADVISORY SERVICES
For third parties generally in the institutional, healthcare, and non-profit
sectors, the scope of these services is summarized below:
Turnkey facility development;
Project management / Owner’s representation (see below);
Acquisition/disposition strategies;
Detailed/complex financial analysis;
Financing advisory services.
Asset Valuations
Long-range real estate strategic planning
With respect to Project Management / Owner’s Representation services,
Aspen provides a “single point of responsibility” for all aspects of the
project. Our mission is to ensure that our client’s needs are met during
all project phases – i.e. site selection, planning, zoning approvals,
design, construction, financing, and occupancy.
Quarterback entire project;
Organize project team (architect, engineers, construction
manager);
Obtain all necessary local and state approvals;
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COMPANY PROFILE (CONTINUED)
Project Management / Owner’s Representation (continued):
Direct the project team to develop plans/specifications and
construction cost estimates;
Direct value engineering process;
Direct the construction process to produce the highest quality
project at the lowest cost;
Manage the procurement of Owner Items and FF+E;
Manage client’s occupancy of the project;
Analyze ownership options;
Assist in the structuring and obtaining financing.
Aspen’s long history of undertaking At-Risk Development (see below),
supplements our focus to bring an “Owner’s Mentality” to the process to
persistently “maximize the interests” of our Clients through all phases of
the project.
AT-RISK DEVELOPMENT SERVICES FOR ASPEN’S OWN ACCOUNT
Here, Aspen acquires land and/or structures for its own account via
market-based approach or via note acquisitions.
While the firm maintains specific geographic and use/product targets
(refocused as necessary to respond to changing market conditions),
ultimately our goal is to find undeveloped or semi-developed properties
with unique environmental, site, or zoning conditions. In those situations,
we bring the depth of our professional and academic experience to bear
and devise a plan that integrates an exploration of alternative uses, a
finer understanding of site and environmental conditions and their
resolution, and strong legal and political ties to achieve our programmatic
goals while maintaining an acute awareness of the realities of the
marketplace.
THE ASPEN GROUP was founded on the concept that institutions and nonprofits have unique real estate needs. To assist in addressing these needs,
Aspen provides the focus and creativity to identify sophisticated and
comprehensive real estate solutions necessary to create value and produce
measurable results for our clients and investors.
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2. PARTNERS RESUMES
BRIAN KELLEHER
PRESIDENT / SENIOR PROJECT MANAGER
EDUCATION
The University of Massachusetts at Amherst – BS, Mathematics
Northeastern University - MBA
LICENSES AND AFFILIATIONS
Licensed Real Estate Broker, Massachusetts
Real Estate Finance Association, Massachusetts
Thundermist Community Health Center, Foundation Board
PROFILE
Brian co-founded The Aspen Group in 1992, after many years in the real estate
development and advisory business. He focuses on providing fee development
services to a range of institutional and non-profit clients throughout New England.
Prior to Aspen’s inception, Brian was a partner with The Linpro Company – a
national real estate development and management firm. He was actively involved in
the development and management of over one million square feet of commercial/
residential space while at Linpro.
NOTABLE PROJECTS
Modern Theatre & Dormitory Complex, Suffolk University, Boston, MA
Clerk-of-the-Works for redevelopment of 100 year old building into a theatre and
dormitory.
One Technology Drive, Westborough, MA
Development management for a 60,000 sf speculative office building.
Dunkin’ Donuts Distribution Center, Franklin, MA
Development management for a 134,000 sf regional distribution/office facility.
Geriatric Authority of Milford, Milford, MA
Project management of renovation and expansion of 85 bed skilled nursing facility.
Thundermist Community Health Center, Woonsocket, RI
Turnkey project management of a 45,000 sf community health center.
Home & Hospice Care of Rhode Island, Providence, RI
Project management of renovation and addition into 50,000 sf state of the art facility.
Heritage Assisted Living and Alzheimers Center, Framingham, MA
Project management of renovation and addition to long term care facility.
The Boston Home, Dorchester, MA
Project Management for renovation of specialty facility for multiple sclerosis patients.
Goddard House Nursing Home, Jamaica Plain, MA
Project management and addition to a 125 bed skilled nursing facility.
RANDY LILLY
CONSTRUCTION AND ARCHITECTURE
EDUCATION
University of Michigan – BS, Architecture
University of Michigan – MA, Architecture
PROFESSIONAL EXPERIENCE
1992 – Present – Co-founder and Partner, The Aspen Group
1977 – 1981 – Architect, Bull Field Volkman & Stockwell
Architect, Skidmore Ownings & Merrill
PROFILE
Mr. Lilly graduated from the University of Michigan with a Bachelor of Science
Degree in Architecture in 1975 and a Master’s Degree in Architecture in 1977. From
1977 to 1981, Mr. Lilly worked as an architect in San Francisco for Bull Field
Volkman & Stockwell and for Skidmore Owings & Merrill on major high-rise office
buildings, multi-family housing and suburban office parks.
Mr. Lilly has been active in the construction industry since 1981 and is a co-founder
of The Aspen Group and an active partner in all of its development projects. Randy
also participated in:
Securing approvals for the Home Depot site in Somerville, MA;
Development of the 325-unit multi-family Brickett Hill Estates in
Haverhill, MA;
Securing approvals for a 250,000 square foot office complex in
Sharon, MA;
Development of a 100-unit single-family subdivision in Haverhill, MA.
Development and management of 88,000 square foot office building in
North Reading, MA;
Development and management of 40,000 square foot office building in
North Reading, MA;
Riverbend Apartments – securing approvals for 252-unit apartment
complex in Woonsocket, RI;
Securing approvals for $20 million, 66 unit project in the Mission Hill
section of Boston;
Development of 60,000 square foot first class office building in
Westborough, MA.
3. DESCRIPTION OF SERVICES
DESCRIPTION OF SERVICES
MISSION STATEMENT
“To assist our clients to secure superior facilities by providing
comprehensive and innovative solutions to their specialized real
estate needs”.
ASPEN SERVICES:
STRATEGIC FACILITY ACTION PLAN:
For existing owned/leased facilities together with anticipated future real
estate needs, Aspen will develop a Strategic Facilities Action Plan that
comprehensively evaluates current and projected space needs, and
provides a detailed action plan focused on maximizing utilization and
productivity while increasing revenues and reducing overhead costs.
FEASIBILITY ANALYSIS:
For new projects being considered, Aspen will prepare a comprehensive
feasibility analysis to test viability prior to expending significant costs.
The feasibility report will evaluate preliminary schematic design,
estimated project costs, proforma income and expense, market/leasing
potential, and a critique of regulatory, zoning, and financial risks.
The feasibility study will be prepared in a professional and
comprehensive manner for presentation to senior management, board of
directors, and financial partners.
PROPERTY EVALUATION REPORT:
For properties considered for acquisition, Aspen will prepare a
comprehensive Property Evaluation Report relating to land and/or
existing facilities with a focus on analyzing all property acquisition and
use issues including environmental, zoning, easements/ encumbrances,
handicapped compliance, wetlands, parking, building density potential,
structural and building systems evaluation, expansion capability for
existing facilities, etc.
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DESCRIPTION OF SERVICES (CONTINUED)
SITE SELECTION / ACQUISITION:
Our focus is to undertake a comprehensive canvassing of potential sites
within a specific geographic area to insure maximum coverage of
available properties and to create a highly competitive purchasing
process in favor of the Client. Oftentimes, this approach will uncover
sites previously ‘not on the market’; thereby, increasing selection
opportunities and negotiation leverage.
We strive to identify sites that have the zoning, utility availability, physical
characteristics and locational elements that are compatible with the
Client’s marketing, operational and capital budget requirements.
SITE EVALUATION:
For specific sites, we are extremely adept at evaluating site development
issues that can significantly impact a project’s costs and development
risks. We understand issues such as hazardous materials, wetlands,
subsurface ledge, drainage requirements, utility availability, cutting and
filling requirements, etc., and know how to study these items in the most
cost effective manner.
The potential “hidden costs” associated with these site issues can be
significant if not properly evaluated and factored into the initial site
design. Additionally, we have the experience to plan cost effective
solutions that mitigate excessive design criteria, thus reducing our
Client’s development costs.
ZONING / PERMITTING:
We are responsible for processing all state and local permits/approvals
and, as such, interact closely with local zoning officials to create an
efficient process that saves time and minimizes costs.
We meet early on with the local zoning officer to secure a complete
understanding of the permitting process, and strive to plan the project to
be consistent with “as of right” zoning regulations; thereby minimizing the
need for costly and time consuming variances, special permits, etc.
We also focus on an ‘incremental approach’ to the approval process
which minimizes pre-development costs/risks by only committing funds
for architectural and engineering plans which are absolutely necessary,
at a specific point in the process, to secure the required unconditional
zoning approval.
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DESCRIPTION OF SERVICES (CONTINUED)
PROJECT TEAM SELECTION & CONTRACT NEGOTIATION:
We assist our Clients in the selection of the project team members
including architect, interior designer, engineers, contractor, etc.
Our approach is to identify professionals with direct experience
consistent in complexity and scale with the project at hand, and create a
competitive process to secure favorable pricing.
We also assist in the negotiation of the contracts, in conjunction with the
Client’s attorney, generally resulting in substantial cost savings.
PROJECT PLANNING:
We create a planning process that challenges all major project team
decisions to insure that the Client secures the highest quality facility at
the lowest possible cost. We have the experience to ask the tough
questions, foster a healthy interaction that feeds off the collective
expertise of the project team, and generate the information necessary to
make sound business decisions throughout the planning of the project.
PROJECT BUDGETING:
We prepare detailed project budgets, including all soft and hard costs, to
assist the Client to establish, early on, a comprehensive budget and
related scope that is consistent with the Client’s overall financial vision of
the project.
These conceptual budgets set the framework for the project and provide
a reference point to measure budget adherence as the project scope is
more fully defined during the design and pricing phases.
LICENSING REQUIREMENTS:
We work in conjunction with the Client’s Licensing Consultant to
generate the documents required for certification. We are experienced in
the Certificate of Need process and understand the type and extent of
documentation required. Our involvement generally results in a more
timely process and reduced filing preparation costs.
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DESCRIPTION OF SERVICES (CONTINUED)
FINANCING:
We assist in the generation of proformas and financing memorandums
required for lenders and investors, as well as assist in the negotiation of
loan documents, and in the timely processing of loan closings.
PROJECT MANAGEMENT:
We act as the Client’s representative throughout project construction,
which allows a smooth transition from the planning to the construction
phase, provides a constant point of reference to minimize
misunderstandings and change orders, fosters a team approach to
generate meaningful value engineering/cost saving ideas, and focuses
on completing the construction in the most timely and cost effective
manner (i.e. on time and on budget).
MARKETING SUPPORT:
For projects that require pre-leasing commitments in order to proceed,
Aspen will direct the leasing/marketing effort in order to secure an early
indication of tenant interest in the project. We will also prepare and
negotiate Letters of Intent and Lease Agreements with respect to this
effort.
Aspen also provides management of the marketing and leasing/
subleasing efforts, as well as undertaking complete responsibility for
implementing disposition plans for maximizing the sales value of facilities
to be sold.
LEED CERTIFICATION:
Aspen has experience in managing projects that have secured LEED
Certification; including two projects with “gold” designation as well as the
first healthcare facility in Rhode Island to secure LEED Certification. We
assemble the appropriate LEED consultants and manage the design and
construction phases to maximize the opportunity to secure the highest
possible LEED designation in the most cost effective manner.
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4. CLIENT LIST
CLIENT LIST
HEALTHCARE:
American Renal Associates (Danvers, MA)
Artificial Kidney Centers of Rhode Island (Multiple Locations)
Bradley Hospital (East Providence, RI)
Fresenius Medical Care (Somersworth, NH)
Home and Hospice Care of Rhode Island (Providence, RI)
Henrietta Goodall Hospital (Sanford, ME)
Jordan Hospital (Plymouth, MA)
Landmark Medical Center (Woonsocket, RI)
Lifespan Health System (Providence, RI)
Miriam Hospital (Providence, RI)
New London Hospital (New London, NH)
Rhode Island Blood Center (Providence, RI)
Saint Mary’s Hospital (Waterbury, CT)
Saint Raphael Healthcare System (New Haven, CT)
Southcoast Health Systems (Fall River, MA)
Sturdy Memorial Hospital (Attleboro, MA)
Thundermist Health Center (Woonsocket, RI)
LONG TERM CARE
Diocese of Fall River (Fall River, MA)
Geriatric Authority of Holyoke (Holyoke, MA)
Geriatric Authority of Milford (Milford, MA)
Goddard House (Jamaica Plain, MA)
Heritage Assisted Living (Framingham, MA)
Mary Ann Morse Nursing Home (Natick, MA)
Saint Regis Health Center (New Haven, CT)
Steere House Nursing and Rehabilitation Facility (Providence, RI)
The Boston Home (Dorchester, MA)
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CLIENT LIST (CONTINUED)
EDUCATION:
Massachusetts Institute of Technology (Cambridge, MA)
Northeastern University (Boston, MA)
Saint Andrew’s School (Barrington, RI)
Suffolk University (Boston, MA)
CORPORATE:
Dunkin’ Donuts (Franklin, MA)
Rebecca’s Café (Cambridge, MA)
Stryker Development (Cambridge, MA)
EMC (Bellingham, MA)
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5. PROJECT FACT SHEETS / NEWS RELEASES
NEWS RELEASE
ASPEN PROVIDES SITE PROJECT MANAGEMENT AND
CLERK-OF-THE WORKS SERVICES
FOR SUFFOLK’S $38.0 MILLION MODERN THEATRE
& DORMITORY COMPLEX
FOR IMMEDIATE RELEASE
(October 2010) – The Aspen Group of North Reading,
Massachusetts, recently completed the site project
management and clerk-of-the-works functions for Suffolk
University’s $38.0 million redevelopment of the Modern
Theatre in Boston’s Downtown Crossing. The project
involved the demolition of an existing 7-story, 100 year old
structure while categorizing and removing its historic stone
front façade to be re-incorporated into a new 12-story
complex. In total, the project houses a 200-seat boutique
theatre plus a 200-bed dormitory facility, connected to
Suffolk’s adjacent 10 West Dormitory Complex. The deep
pile and structural slab system supported a new steel
framed structure that was designed using BIM technology.
CBT was the project architect, and construction
management services were being provided by Suffolk
Construction. The award winning project secured LEED
“gold” designation.
Suffolk University is a private, comprehensive, urban
university located on Historic Beacon Hill in Boston, with
three other Massachusetts locations and international
campuses in Madrid, Spain, and Dakar, Senegal.
THE ASPEN GROUP is a full service real estate company focused on creating value for our institutional and
corporate clients.
CONTACT:
Brian J. Kelleher
Tel: 978-664-1549 / Fax: 978-664-8540
Email: bkelleher@aspengroupinc.net
NEWS RELEASE
ASPEN COMPLETES $10.0 MILLION IN RENOVATION
PROJECTS FOR MIT
FOR IMMEDIATE RELEASE
(June 2007) – The Aspen Group of North Reading,
Massachusetts, completed various projects for
MIT’s Real Estate Investment Company in both
Kendall Square, Cambridge, and Kenmore Square,
Boston. Aspen provided comprehensive project
management services including assembling the
project team and engaging the architect and
contractor as well as managing and directing the
planning, design, construction, and occupancy of
the projects.
Projects included: new headquarters for MIT
Press (30,000 sf); the modernization/renovation of
two sorority houses in Kenmore Square; the
repositioning of a 16-story commercial office
building at One Broadway, Cambridge, (including
lobby renovation, conversion of the HVAC system
from steam to gas, and the turnkey buildout of
several tenant spaces); and the gut renovation of
the lower level of 120 Main Street including new
commercial kitchen for Rebecca’s Café.
Architects included The Casali Group and The
Rojas Group; and construction management
services were provided by Kirkland Construction
Company and Structuretone.
_______________________________________________________________________________________
THE ASPEN GROUP is a full service real estate company focused on creating value for our institutional and
corporate clients.
CONTACT:
Brian J. Kelleher
Tel: 978-664-1549 / Fax: 978-664-8540
Email: bkelleher@aspengroupinc.net
NEWS RELEASE
ASPEN COMPLETES
BUILDING ENVELOPE PROJECTS
FOR SUFFOLK UNIVERSITY
(November 2010) – The Aspen Group of North Reading,
Massachusetts, announces the completion of two building envelope
projects for Suffolk University. Aspen provided comprehensive
project management services for the properties located at 10 West
Street and 73 Tremont Street in downtown Boston.
10 West Street is an 8-story dormitory complex located in the heart
of Downtown Crossing. The scope of work included repairs to the
building’s masonry facades and slate mansard roof, as well as
replacement of the main roofing system. Gale Associates was the
engineer for the project, and construction management services
were provided by Lee Kennedy Company.
73 Tremont Street is a 13-story building prominently located at the
base of Beacon Hill and houses the University’s executive and
administrative offices, faculty offices and undergraduate library and
common areas. Aspen managed the restoration project, including a
complete repointing of the building’s Tremont Street facade, as well
as sections fronting the historic Granary Cemetery.
Wessling
Associates was the project architect, and construction services
were provided by NER Construction.
Suffolk University is private, urban university located on historic
Beacon Hill in Boston, with three other Massachusetts locations
and international campuses in Madrid, Spain and Dakar, Senegal.
_______________________________________________________________________________________
THE ASPEN GROUP is a full service real estate company focused on creating value for our institutional and
corporate clients.
CONTACT:
Brian J. Kelleher
Tel: 978-664-1549 / Fax: 978-664-8540
Email: bkelleher@aspengroupinc.net
NEWS RELEASE
ASPEN COMPLETES FIRST PHASE OF CAMPUS UPGRADES
FOR ST. ANDREW’S SCHOOL
FOR IMMEDIATE RELEASE
(May 2009) – The Aspen Group of North Reading,
Massachusetts was hired by St. Andrew’s School of
Barrington, Rhode Island, to provide real estate advisory
services regarding their 2008 Strategic Master Plan and to
provide project management services regarding the first
phase of their planned campus upgrades. Working
closely with the school’s management and the SLAM
Collaborative of Glastonbury, Connecticut (architect),
Aspen critiqued the master plan recommendations regarding constructability issues and assisted in developing
phasing plans and cost estimates for the work.
Subsequently, Aspen provided comprehensive project
management services for the campus-wide infrastructure
upgrades; including a new service drive along the
perimeter of the campus to the school’s dining commons
as well as new parking areas and stormwater management system. The scope also included relocating the
Project Adventure outside fitness and recreational center,
constructing new trash disposal facilities, and creating a
new loop roadway to facilitate service and deliver
circulation on the campus.
Insite Engineering provided civil engineering services for the Phase I work, and JH Construction of Swansee,
Massachusetts, was the contractor.
St. Andrew’s School is a co-educational, college preparatory school founded in 1893 serving grades 3 -12 on a
bucolic 100 acre campus in Barrington, Rhode Island.
THE ASPEN GROUP is a full service real estate company focused on creating value for our institutional and
corporate clients.
CONTACT:
Brian J. Kelleher
Tel: 978-664-1549 / Fax: 978-664-8540
Email: bkelleher@aspengroupinc.net
NEWS RELEASE
ND
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ASPEN COMPLETES
HEALTH CENTER FOR THUNDERMIST
FOR IMMEDIATE RELEASE
(November 2011) – The Aspen Group of North Reading,
Massachusetts has completed a second health center in
West Warwick, RI, for Thundermist Health Center. Aspen
previously developed Thundermist’s nationally recognized
Woonsocket facility in 2004. The West Warwick center
includes 17,000 sf incorporated within the redevelopment
of a former mill facility (aka The Cotton Shed).
Through an extensive site search, Aspen identified the
partially renovated structure as an ideal location for
Thundermist, and subsequently negotiated a complex
acquisition of the 34,000 square foot facility out of
receivership and assisted in structuring $3.0 million in
state and federal historical rehab credits. HRSA grants
were also used to finance the project.
Aspen provided turnkey project management for the $6.5
million conversion into a state-of-the-art health center
including managing the permitting, programming, project
team assembly, design, construction, and occupancy
phases of the project. The completed project includes 28
exam rooms, a 75 person multi-purpose conference room,
with full teaching kitchen, and clinical, staff, and administrative spaces all on one level.
Vision 3 Architects was the project architect, and
construction management services were provided by
Alhambra Building Company.
Thundermist is one of Rhode Island’s leading community
health centers serving 35,000 patients in Woonsocket,
West Warwick, and South County.
_______________________________________________________________________________________
THE ASPEN GROUP is a full service real estate company focused on creating value for our institutional and
corporate clients.
CONTACT:
Brian J. Kelleher
Tel: 978-664-1549 / Fax: 978-664-8540
Email: bkelleher@aspengroupinc.net
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NEWS RELEASE
ASPEN COMPLETES OUTPATIENT SURGERY CENTER
FOR SAINT RAPHAEL’S HEALTHCARE SYSTEM
FOR IMMEDIATE RELEASE:
(May, 2000) – THE ASPEN GROUP of North Reading, Massachusetts, recently completed the turn-key
development of a new outpatient ambulatory surgery center for Saint Raphael’s Healthcare System.
Aspen provided comprehensive project management
services including project team assemblage and contract
negotiations, lease and landlord negotiations, project
planning and permitting, budgeting, and oversight of
the design, construction, and occupancy of the facility.
The project involved increased complexity since the
Landlord was adding a second story and renovating the
balance of the former industrial building concurrent with
the construction of the surgery center.
The 16,000 square foot surgery center includes four (4)
state-of-the-art operating rooms, a procedures room,
Pre-op, PACU, physician locker rooms, staff lounge,
administrative offices, and support functions, all within
a “patient friendly” environment. The facility is located
in Hamden, Connecticut, approximately ten miles from
the Hospital’s main campus.
THE ASPEN GROUP is a full service real estate company focused on creating value for our healthcare,
corporate, and institutional clients.
Contact:
Brian J. Kelleher
(978) 664-1549
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NEWS RELEASE
ASPEN COMPLETES RENOVATION AND EXPANSION FOR
MARY ANN MORSE NURSING HOME & REHABILITATION CENTER
FOR IMMEDIATE RELEASE
(August 2011) – The Aspen Group of North Reading,
Massachusetts, announced the completion of the
renovation and expansion of the Mary Ann Morse
Nursing & Rehabilitation Center (MAM) located at
45 Union Street in South Natick, MA. The $4.7 million
project involved extensive renovations to MAM’s
existing facility and related site improvements including
rerouted underground utility systems, upgraded nurses
stations, resident rooms, common rooms, administrative offices, and in house storage areas, as well as
a newly constructed 2-story addition creating a state-ofthe-art rehab gym and occupational therapy center.
Spacious and secure exterior spaces were created via
nd
two 2 floor patios areas as well as grade level patios
for residents and staff. The project eliminated former
3-bedded rooms, created an expanded dementia unit with extensive common areas, and facilitated the
redistribution of patient mix to allow increased short term stay beds.
Aspen provided owner’s project management services for this 24 month design and construction assignment
which required significant coordination as the facility remained in full operations throughout the construction
process with limited impact to bed revenues.
Architectural and interior design services were provided by Levi Wong Design Associates, civil engineering
services by Samiotes Consultants, and Carr Enterprises was the construction manager for the project.
Mary Ann Morse Nursing & Rehabilitation Center is an award-winning non-profit facility owned and operated
by Mary Ann Morse Healthcare Corp., a leading provider of elder care services in Metro West.
THE ASPEN GROUP is a full service real estate company focused on creating value for our institutional and
corporate clients.
CONTACT:
Brian J. Kelleher
Tel: 978-664-1549 / Fax: 978-664-8540
Email: bkelleher@aspengroupinc.net
www.aspengroupinc.net VISIT OUR NEW WEB SITE !!
NEWS RELEASE
ASPEN COMPLETES $5.0 MILLION ADDITION/
RENOVATION TO HERITAGE ASSISTED LIVING FACILITY
FOR IMMEDIATE RELEASE
(March 2009) – The Aspen Group of North Reading,
Massachusetts, announces the completion of the
renovation and expansion of the Heritage at
Framingham Assisted Living facility. Aspen provided
project management services for this $5.0 million
modernization project including the addition of a new
wing housing 12 assisted living apartments above a
new multi-purpose function hall with seating capacity
up to 100 and two state-of-the-art audio visual
systems. The project also included adding a second
three-stop elevator, a renovated country kitchen café
with fireplace, expanded employee lounge, new
delivery bay and service corridor, and upgraded
finishes throughout. In addition, building envelope
improvements included a new roof system, all new
windows, and 100% re-siding of the existing facades. All work was coordinated to be performed while the facility
remained in full operations.
Gorman Richardson of Hopkinton, Massachusetts was the architect for the project, and construction
management services were provided by CE Floyd Construction Company.
Heritage at Framingham is a unique assisted living facility providing first-class setting for independent and
traditional assisted living as well as Alzheimer’s care. Heritage is owned by MaryAnn Morse Healthcare
Corporation, a non-profit organization and leading provider of elder care services in Metro West.
THE ASPEN GROUP is a full service real estate company focused on creating value for our institutional and
corporate clients.
CONTACT:
Brian J. Kelleher
Tel: 978-664-1549 / Fax: 978-664-8540
Email: bkelleher@aspengroupinc.net
NEWS RELEASE
ASPEN COMPLETES RENOVATION AND EXPANSION FOR
GERIATRIC AUTHORITY OF MILFORD
FOR IMMEDIATE RELEASE
(July 2008) – The Aspen Group of North
Reading, Massachusetts, announced the
completion of the renovation and expansion
of the Geriatric Authority of Milford (GAM), a
skilled nursing and rehabilitation center
located at One Countryside Drive, Milford,
Massachusetts. The $9.0 million project
involved extensive renovations to GAM’s
existing facility and related site improvements
including upgraded nurses stations, resident
rooms, common areas, administrative offices,
and mechanical systems, as well as newly
constructed additions including a
new
resident wing and new rehab gym and
charting area. The project increased the bed
count from 80 to 85 beds and facilitated the
redistribution of patient mix to 30 short term
stay beds and 55 long term stay beds.
Aspen provided owner’s project management services for this 30 month assignment which required significant
coordination as the facility remained in full operations throughout the construction process with limited impact to
bed revenues. The public construction project was one of the early projects procured under Chapter 149A
involving a CM-at-Risk approach. Financing was provided via Town sponsored municipal bonds.
The project team included Heym Associates, project architect; Guerriere and Halnon, civil engineer; Carangelo
Interiors, interior design, and Consigli Construction, CM-at-Risk
The Geriatric Authority of Milford is an 85-bed Level II long term care facility providing quality elder care for the
past 100 years, and was established as an independent public authority in 1982.
THE ASPEN GROUP is a full service real estate company focused on creating value for our institutional and
corporate clients.
CONTACT:
Brian J. Kelleher
Tel: 978-664-1549 / Fax: 978-664-8540
Email: bkelleher@aspengroupinc.net
www.aspengroupinc.net VISIT OUR NEW WEB SITE !!
NEWS RELEASE
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NEWS RELEASE
ASPEN NAMED DEVELOPMENT CONSULTANT FOR
$20.0 MILLION SKILLED NURSING FACILITY
FOR IMMEDIATE RELEASE
(November, 2000) - THE ASPEN GROUP of North
Reading, Massachusetts, has been engaged by the Diocesan
Health Facilities (DHFO) of Fall River, Massachusetts, as
development consultant for the redevelopment of the Catholic
Memorial Home, a 300-bed skilled nursing facility located
in the historic Highland Avenue district of Fall River.
The $20.0 +/- million project will include an 85,000 square
foot addition consisting of patient rooms (230 beds), dining
facilities and common area space. Concurrently, a
substantial renovation of the existing facility will be
undertaken, all of which to be performed while the existing
nursing home remains in full operation.
The Diocesan Health Facilities, sponsored by the Roman
Catholic Diocese of Fall River, is the largest owner/operator
of skilled nursing facilities in Southeastern Massachusetts
with approximately 1,000 beds under ownership/
management.
THE ASPEN GROUP is a full service real estate company focused on creating value for our healthcare,
corporate, and institutional clients.
Contact:
Brian J. Kelleher
(978) 664-1549
2
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7
NEWS RELEASE
ASPEN SELLS 146-ACRE BELLINGHAM
BUSINESS PARK TO EMC CORPORATION
FOR IMMEDIATE RELEASE
(January, 2000) THE ASPEN GROUP of North Reading,
Massachusetts recently sold its Bellingham Business Park
to EMC Corporation for a sale price of $6.8 million.
Located approximately two miles from the interchange of
I-495 and Route 140 near the town line of Franklin and
Bellingham, Massachusetts, Bellingham Business Park
consists of 146 acres with overall build-out potential of 1.0
to 1.5 million square feet.
Aspen had secured approvals for the development prior to
the sale transaction.
THE ASPEN GROUP is a full service real estate company focused on creating value for our corporate,
healthcare, and institutional clients.
Contact:
Brian J. Kelleher
978-664-1549
Email: bkelleher@aspengroupinc.net
NEWS RELEASE
ASPEN TO DEVELOP 252-UNIT
RIVER BEND APARTMENT COMMUNITY
FOR IMMEDIATE RELEASE
(October, 2001) – THE ASPEN GROUP of North Reading, Massachusetts, announced that it has secured
zoning approvals for the development of a 252-unit luxury apartment community to be located on the
former EMC mill site in Woonsocket, Rhode Island adjacent to the state line between Massachusetts and
Rhode Island.
The planned community, to be named River
Bend, will be nestled along a bend in the Peters
River and consists of 9 three-story wood
framed buildings, a clubhouse and leasing
center, swimming pool, and landscaped
gardens. The building design will be of
contemporary New England Architecture
featuring brick accents with individual garages
available to 20% of the apartments. Inside the
buildings, new residents will enjoy modern
luxury floor plans including one and two
bedroom styles ranging from 750 to 1,050 s.f.
Unit amenities will include full size washers and dryers, fully appliance designer kitchens, tile foyers,
wall-to-wall carpeting, gas fireplaces, central air conditioning, and balcony or private patio area.
Strategically located only 5+ miles from Interstates 495 and 295, the development will address the
highly underserved rental markets along I-495 South and Northern Rhode Island. Groundbreaking is
planned for mid-2002.
THE ASPEN GROUP is a full service development and consulting firm active throughout New England.
Contact:
Brian J. Kelleher
978-664-1549
Email: bkelleher@aspengroupinc.net
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The Aspen Group, Inc.
100 Riverpark Drive, P.O. Box 96
North Reading, MA 01864
t: 978-664-1549
f: 978-664-8540
www.aspengroupinc.net