Morgan Stanley Investment Management and MorningStar Senior Living have announced 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 comprises 463 units across three communities near Denver. MorningStar, a leading senior housing operator based in Denver, will continue to operate the communities.
“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 percent annually over the next five years as this population cohort expands,” said Will Milam, head of U.S. investments at Morgan Stanley Real Estate Investing.
“MorningStar is proud to begin our new partnersh
