MassDevelopment Provides Nearly $23M In Bonds For JP Nursing Facility

MassDevelopment has issued $22.8 million in tax-exempt bonds for Lutheran Home of Jamaica Plain Inc., a subsidiary of Ascentria Care Alliance Inc. Ascentria used bond proceeds to buy Laurel Ridge Rehabilitation & Skilled Nursing Center, a 120-bed skilled nursing facility in Boston’s Jamaica Plain neighborhood. Berkshire Bank purchased the bonds.