Morgan Stanley Fund Pays $93.1M for Florida Senior Housing Portfolio
Morgan Stanley Investment Management, through investment funds managed by Morgan Stanley Real Estate Investing (MSREI), acquired a Class A seniors housing portfolio located in the Orlando and Tampa metropolitan areas. The portfolio includes two communities comprising 300 independent living, assisted living and memory care units serving residents in Central Florida.
The portfolio comprises the 193-unit Sonata Lake Mary in Lake Mary, Fla., and the 106-unit The Preserve at Dunedin in Clearwater, Fla.
Commercial Search reports that AgeWell sold the Lake Mary property for $60 million, while Berkshire Residential Investments sold the Clearwater community for $31.1 million. AgeWell will continue to operate the communities.
Funds managed by MSREI have been actively investing in seniors housing since 2022 and today maintain ownership interests in 13 senior living communities across the United States.
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Remax Real Estate Professionals
Re/Max Real Estate Professionals
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Jared Ennis
Central CA Commercial | California
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Rick Recckio
Recckio Real Estate & Development
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Greg Corbin
Northgate Real Estate Group
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Essex Property Trust, Inc.
California
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Josh A
California
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Bob Tuteur
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Andrew Schildcrout