PGIM Real Estate Sells 11-Property Brightview Senior Living Portfolio

BALTIMORE — PGIM Real Estate has sold a portfolio of 11 seniors housing properties.

Baltimore-based Brightview Senior Living manages the communities, which are located throughout the Northeast and Mid-Atlantic.

The sale was executed by SHP IV, the fourth in PGIM Real Estate’s series of dedicated closed-end funds designed to capitalize on opportunities in the seniors housing sector. SHP IV closed in 2012 with approximately $569 million in commitments from institutional investors.