We’ve written about how private equity firms are likely the buyers best equipped to acquire senior care assets in this current environment, given their deep pockets and penchant for value-add deals. One of those firms, Kayne Anderson Real Estate Advisors, has already shown its interest by closing several deals, including the $500 million acquisition of seven senior living properties from Welltower in June and the $97 million purchase of two brand-new senior living communities in the St. Louis, Missouri area announced just last week. AEW Capital Management is another that threw its muscle around with its $700+ million acquisition of another Welltower seniors housing operating portfolio made public at the end of September.
Chicago Pacific Founders is also getting in on the action by acquiring a 118-unit senior living community in Englewood, Florida. Located minutes from the water, the community is close to shopping centers, medical facilities and both indoor and outdoor recreation. The property also includes about 50 acres adjacent to the community which may be utilized for future development. Terms of the deal were not disclosed, but Chicago Pacific plans to invest in improvements. Grace Management will take over operations as well.
