January 14, 2021
Bellevue-based Aegis Living and Boston-based Blue Moon Capital Partners LP formed a second JV with the acquisition of 10 communities across California, Washington and Nevada. It marks the largest deal in Aegis Living’s 24-year history and includes more than $350 million in senior living real estate.
Aegis Living’s Dwayne Clark says, “The future of the senior living industry has never been stronger and those with a robust owner-operator presence will be best positioned to meet the growing demands for high-quality senior assisted living and memory care. We are just getting started on our plans to double in size by 2030.”
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.
Aegis Living also has eight additional communities in development with several opening their doors in 2021 including: Aegis Living Bellevue Overlake, Aegis Living Kirkland (pictured), and Aegis Lake Union.
Acquired properties included:
- Aegis Living Callahan House (Shoreline, WA)
- Aegis Living Shoreline (Shoreline, WA)
- Aegis Living Kirkland (Kirkland, WA)
- Aegis Living Las Vegas (Las Vegas, NV)
- Aegis Living Dana Point (Dana Point, CA)
- Aegis Gardens Fremont (Fremont, CA)
- Aegis Living Granada Hills (Granada Hills, CA)
- Aegis Living San Francisco (San Francisco, CA)
- Aegis Living Pleasant Hill (Pleasant Hill, CA)
- Aegis Living Ventura (Ventura, CA)
For comments, questions or concerns, please contact Dennis Kaiser