For over $400,000 per unit, a joint venture between MorningStar Senior Living and Arcapita, a Bahrain-based global investment manager, purchased (in two transactions) a portfolio of three newly built assisted living/memory care communities in Colorado. One of the properties, a community in Jordan with 55 AL units and 29 MC units, opened in July 2014 and was already 80% occupied at the time of the sale. It sold for approximately $34.5 million, or $411,000 per unit. While the other two properties, located in Colorado Springs, included a 48-unit MC community that opened in September 2014 and an already stabilized community with 45 AL units and 19 MC units that opened in late 2013. Combined occupancy at both campuses was 80%, and together they sold for approximately $45 million, or $402,000 per unit. MorningStar will continue operating all three communities. To finance the acquisitions, Aron Will of CBRE secured a $53 million non-recourse floating rate loan, with a three-year term and 24 months of interest only, from a national bank. Lisa Widmier, Matt Whitlock and Mr. Will represented the sellers in the transactions.