Morgan Stanley Investment Management has announced a partnership with Brightview Senior Living to acquire eight senior housing communities. These properties, originally developed by Brightview, were purchased from Harrison Street, an investment management firm focused on alternative real assets. The portfolio includes 1,186 units located in the Baltimore, Philadelphia, Providence, and Boston metropolitan areas. Brightview will continue to manage these communities.

Will Milam, Head of U.S. Investments at Morgan Stanley Real Estate Investing (MSREI), expressed satisfaction with the acquisition: “We are pleased to acquire this high-quality portfolio of senior housing communities that have demonstrated a track record of strong operational performance.” He highlighted the growing demand for senior housing due to aging demographics and Brightview’s longstanding reputation for excellent resident care.

Brian Engle, EVP of Operations for Brightview Senior Living, commented on the collaboration: ”We are excited to partner with MSREI as we remain committed to being a great place to work for our associates and a great place to live for our residents.”

According to John Burns Research and Consulting, nearly all 69 million baby boomers will reach age 70 or older by 2033. This demographic shift is expected to drive demand for quality senior living options.

MSREI has been investing in senior housing since disruptions during the COVID-19 pandemic. The firm now holds interests in approximately 30 senior living communities across the United States.

JLL Capital Markets advised on the transaction and secured financing through Freddie Mac for MSREI.

Brightview Senior Living operates over 45 communities along the East Coast and offers various living arrangements including independent living and specialized care for those with dementia. Its culture has received multiple recognitions from Fortune Magazine.

Morgan Stanley Real Estate Investing is part of Morgan Stanley's global investment management operations which manage $53 billion in real estate assets worldwide.

Morgan Stanley Investment Management manages $1.6 trillion in assets globally as of September 2024 and provides diverse investment solutions internationally.