Morgan Stanley Investment Management and MorningStar Senior Living (MorningStar) announced today that investment funds managed by Morgan Stanley Real Estate Investing (MSREI) have acquired a MorningStar senior housing portfolio from Kayne Anderson Real Estate for $305 million. The portfolio is comprised of 463 units across three communities near Denver. MorningStar, a leading senior housing operator based in Denver, will continue to operate the communities.
Commenting on the acquisition, Will Milam, Head of U.S. Investments at Morgan Stanley Real Estate Investing, said: “We are pleased to acquire this high-quality portfolio of senior housing communities, which has demonstrated strong historical performance. As people age, their real estate needs evolve and as the first Baby Boomers are turning 80 this year, demand for senior housing is rising rapidly. We expect this sector to grow nearly 5% annually over the next five years as this population cohort expands.”
“MorningStar is proud to begin our new partnership with Morgan Stanley Real Estate Investing, marked by their acquisition of three stand-out Colorado assets—an exciting start to a strong future together,” said Jamie Ranzan, President and CIO for MorningStar.
Funds managed by MSREI have been actively investing in senior housing since 2022 and today have an ownership interest in approximately 30 senior living communities across the United States with nearly 3,000 independent living, assisted living and memory care units.
Discover the latest trends and insights—explore the Business Insights Journal for up-to-date strategies and industry breakthroughs!
