The Inland Actual Property Group lately acquired three senior dwelling communities from Harrison Avenue, and there’s “no scarcity of alternatives” for development subsequent 12 months and past, in response to Inland Actual Property Acquisitions Senior Vice President Matthew Tice.
The Oak Brook, Illinois-based group presently owns 14 senior housing communities. In 2019, it launched a senior dwelling funding platform with Spectrum Retirement.
The three communities offered by Harrison Avenue whole are positioned in St. Peters, Missouri; Chandler, Arizona; and Hendersonville, Tennessee. They whole 635 models with a median occupancy of 92%. As a part of the acquisition, Inland has named Life Care Companies, one of many nation’s largest senior dwelling operators, to handle the communities.
Phrases of the deal weren’t disclosed.
The communities are a “nice instance” of the sorts of properties Inland desires to proceed to personal and purchase going ahead, Tice advised SHN.
He added that favorable demand tendencies, together with the truth that all child boomers can have reached the age of 65 by 2030, are serving to gasoline Inland’s bullish outlook on senior housing funding going ahead.
“We imagine there might be no scarcity of alternatives in 2025 and past. Whereas a number of elements are driving senior dwelling demand development, the ageing U.S. inhabitants is rising the necessity for communities and companies,” Tice advised SHN.
The communities had been lately developed in a three way partnership with Ryan Firms and LCS, with the sale by Harrison Avenue representing “ongoing investor curiosity” for senior housing, Harrison Avenue Head of Asset Administration in North America Ben Mohns stated in an issued assertion following the deal.
“We’re dedicated to working with companions to develop top-tier senior housing communities that tackle the evolving wants of our ageing inhabitants, after which establish the optimum time to interact in portfolio gross sales to generate liquidity on behalf of our traders,” Mohns stated.
Trying forward, Inland plans to proceed to develop its senior housing funding pipeline, figuring out and buying properties with high-performing operators, rising partnership alternatives and “rising our nationwide footprint and funding within the area,” Tice added.
