ORLANDO and TAMPA, Fla. — Morgan Stanley Investment Management, through funds managed by Morgan Stanley Real Estate Investing (MSREI), has acquired a portfolio of two communities operated by AgeWell Senior Living in Florida — Sonata Lake Mary and the Preserve at Dunedin.
Totaling 300 independent living, assisted living and memory care units, the communities are located in the Orlando and Tampa metropolitan areas. AgeWell will continue to manage the properties on behalf of the new ownership.
The seller and sales price were not disclosed.
“This investment reflects our focus on high-quality seniors housing support by durable, highly visible demand driven by long-term demographic trends,” says Will Milam, head of Morgan Stanley Real Estate Investing U.S. “Together with AgeWell, we believe these modern communities are well positioned to serve the volving healthcare and lifestyle needs of seniors in Central Florida by offering residents a continuum of care alongside resort-style amenities.”