Morgan Stanley Investment Management, through investment funds managed by Morgan Stanley Real Estate Investing, partnered with Brightview Senior Living to acquire an eight-property seniors housing portfolio totaling 1,186 units within four major MSAs in the Mid-Atlantic and Northeast. The predominately-independent living portfolio totals eight properties across the Baltimore, Philadelphia and Boston-Providence MSAs. These senior living properties have consistently demonstrated strong operational performance and feature a variety of amenities.
Brightview originally developed the communities, which were also previously owned by PGIM and most recently by Harrison Street. Brightview and Harrison Street were represented by the JLL Seniors Housing Capital Markets team in the transaction, but Brightview will still have an ownership interest in the portfolio and will continue to operate it. JLL’s Capital Markets group also facilitated an acquisition loan through Freddie Mac.