Bain Capital Real Estate and Capitol Seniors Housing (CSH) have closed on the sale of a seven-property portfolio of Class-A assisted living and memory care communities.
The firms did not disclose financial terms of the sale. They also did not disclose the buyer or buyers, nor the operator or operators of the properties.
The portfolio is highly amenitized and consists of 598 units across four states, according to a press release. Bain and CSH built the portfolio through an initial acquisition in 2015 and subsequent ground-up development.
“This closing helps move the industry further into the post-Covid era and solidifies our belief set long ago that the seniors housing market is receptive to Class A-plus new builds in strong, high barrier-to-entry markets,” said CSH Managing Partner Scott Stewart. “We continue to carry this strategy forward with a robust pipeline of new construction that will deliver in time to address the zenith of…