Morgan Stanley Investment Management, through MSREI, has acquired a senior housing portfolio from MorningStar Senior Living for $305 million, comprising 463 units across three Denver communities.

Target Information

Morgan Stanley Investment Management and MorningStar Senior Living have announced the acquisition of a senior housing portfolio for $305 million, which has been funded by investment vehicles managed by Morgan Stanley Real Estate Investing (MSREI). This portfolio consists of 463 units strategically located across three communities in the Denver area. MorningStar, recognized as a leading operator in the senior housing sector, will maintain its operational management of these communities.

MorningStar Senior Living is an integrated developer, owner, and operator specializing in premier retirement communities, with a portfolio that includes 40 properties representing over 5,000 units across 11 states in the Midwest and Western United States. In Colorado, where the company is headquartered, MorningStar manages 14 communities and employs over 1,300 staff to provide services including independent living, assisted living, and memory care.

Industry Overview

The senior housing industry in the United States has been responding robustly to the aging population, particularly as the first Baby Boomers have reached the age of 80. This demographic shift is driving significant de