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May 10, 2024

Shrewsbury senior community sold to New Jersey company for $28.6M

A satellite image of an retirement complex Image | Courtesy of Google Maps The Southgate at Shrewsbury campus

Several properties making up the Southgate at Shrewsbury retirement community have been sold to an entity with ties to Atlas Healthcare Group, a New Jersey-based healthcare management and consulting services, for a combined total of $28.6 million. 

Five properties, 40 South St., 32 South St., 24 South St., 30 Julio Drive, and 35 Julio Drive, were sold by Southgate for $24.6 million in a transaction finalized on Thursday, according to Worcester District Registry of Deeds records. A separate transaction finalized on Wednesday saw 40 Julio Drive, the site of Shrewsbury Nursing and Rehabilitation Center, sold for $4 million. 

The Nursing and Rehabilitation Center shares the campus with Southgate but is operated by a separate entity.

The five properties previously owned by Southgate were sold to Southgate Realty LLC, while the nursing and rehabilitation center was sold to 40 Julio Drive Realty LLC. Both entities list an address in New Jersey shared with Atlas Healthcare Group. 

Atlas operates assisted living, long-term care and rehabilitation facilities in New Jersey and Connecticut. 

Neither Southgate or Atlas responded to requests for comment regarding the transaction. The website for the 99-bed Shrewsbury Nursing and Rehabilitation Center states a New Jersey-based company is taking over operations of the facility, pending regulatory approval. The notice states the sale will not result in any changes in bed capacity or services provided. 

The nursing and rehabilitation center opened in 1969. The campus underwent expansion over the next two decades, adding senior living residential units and becoming Southgate at Shrewsbury in 1989. More than 250 senior citizens call the campus home. 

The six properties were given a combined tax assessment value of $27.4 million in 2024, according to Town of Shrewsbury property records. 

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