SAN FRANCISCO—Assisted living and memory care provider Aegis Living, along with senior housing private equity investor Blue Moon Capital Partners LP, just announced a second joint venture with the acquisition of 10 communities across California, Washington and Nevada. While it is not the largest deal in the senior living industry, the acquisition illustrates Aegis' steady footprint in senior living when others are exiting or wavering.
It is, however, the largest deal in Aegis Living's 24-year history. It includes more than $350 million in senior living real estate, supporting the company's dedication to owning its communities and goal of rapid growth during 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% of its 32 communities.
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Lisa Brown
Lisa Brown is an editor for the south and west regions of GlobeSt.com. She has 25-plus years of real estate experience, with a regional PR role at Grubb & Ellis and a national communications position at MMI. Brown also spent 10 years as executive director at NAIOP San Francisco Bay Area chapter, where she led the organization to achieving its first national award honors and recognition on Capitol Hill. She has written extensively on commercial real estate topics and edited numerous pieces on the subject.
