Morgan Stanley Real Estate Investing (MSREI) has 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 senior housing operator based in Denver, will continue to operate the communities. (MorningStar Arvada shown)

Commenting on the acquisition, Will Milam, Head of U.S. Investments at Morgan Stanley Real Estate Investing, said: “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% annually over the next five years as this population cohort expands.”

Funds managed by MSREI have been actively investing in senior housing since 2022 and today have an ownership interest in approximately 30 senior living communities across the United States with nearly 3,000 independent living, assisted living and memory care units.