NAPLES and SARASOTA, Fla. — Real estate investment management firm Town Lane has acquired two independent living communities located in Florida. Together the properties total 373 units.
Located in Naples, Discovery Village Naples was opened in 2020. Discovery Village Sarasota Bay in Sarasota was opened in 2022. Both communities are located on campuses that also house assisted living and memory care facilities.
Discovery Senior Living will continue to lease and operate the communities.
Amenities at the properties include outdoor courtyards and pools, fitness and rehab spaces, theaters and beauty salons.
“The underlying fundamentals in both these submarkets, as well as the broader seniors housing landscape, remain compelling,” says Tyler Henritze, managing partner at Town Lane. “New vintage, high-quality seniors housing benefitting from strong demographic tailwinds represents a key theme for Town Lane, with additional transactions pending.”
Gibson Dunn LLP served as legal counsel to Town Lane in the transaction.