Aegis Living, a provider of assisted living and memory care, and Blue Moon Capital Partners, a senior housing private equity investor, have formed a second joint venture with the acquisition of 10 communities across California, Nevada and Washington state.
The largest deal in Aegis Living’s 24-year history includes more than $350 million in senior living real estate, supporting the company’s dedication to owning its communities and goal of growing rapidly over the next 10 years. The 702-unit portfolio consists of assisted living and memory care apartments, all in urban, high-barrier-to-entry markets with attractive demographics and limited existing supply. Aegis Living previously operated these communities under a lease. With today’s announcement, Aegis has ownership in more than 70 percent of its 32 communities.
“At a time when we are seeing many operators and traditional senior living investors leave the market, we are leaning in,” said Kris Engskov preside