OAK BROOK, Ill. — Inland Real Estate Investment Corp. has raised more than $149 million in capital for its private investment offering, National Senior Living Portfolio DST, a Delaware statutory trust sponsored by Inland. Now fully subscribed, the fund has been closed.
The trust currently indirectly owns three senior living communities. Located in Arizona, Missouri and Tennessee, the communities total 635 units. Each of the communities offers independent living, assisted living and memory care. The properties include Clarendale of Chandler in Chandler, Arizona; Clarendale of St. Peters in St. Peters, Missouri; and Clarendale at Indian Lake in Hendersonville, Tennessee. The communities comprise 232, 214 and 189 units, respectively. Amenities at the properties include restaurants, bistros and cafés, theater rooms, fitness centers, salons, art studios, swimming pools, lounges, gathering areas and pet-friendly offerings.
Currently, Inland’s overall senior living portfolio totals roughly $800 million in assets under management, with 15 communities totaling 2,333 units.
“We anticipate organic demand driven by the aging population with an increasing life expectancy will continue to propel performance in the senior living sector for years to come,” says Ella Neyland, interim chief executive officer of Inland.