NEW YORK CITY — Investment firm Monarch Alternative Capital has sold a portfolio of eight seniors housing properties. Together, the communities comprise more than 1,100 units across a full continuum of care.
New York City-based Monarch began acquiring the properties in 2021. According to a press release issued by the firm, the acquisitions marked a strategic move to capitalize on “the disruption in the seniors housing industry caused by COVID-19.”
Amidst the senior living industry’s post-pandemic recovery, Monarch began to explore opportunistic sales.
A combination of buyers, including a publicly traded REIT and a private equity firm, acquired the portfolio. Evercore served as a financial advisor on the transactions.
Founded in 2002, Monarch’s portfolio includes roughly $17 billion in assets under management.