MorningStar Senior Living announced a new relationship with Ventas, Inc., with Ventas acquiring a 148-unit complex in Everett for $54.7 million.
“We are thrilled to launch our relationship with Ventas through their acquisition of our beautiful Silver Lake community,” said Jamie Ranzan, President & Chief Investment Officer of MorningStar. When MorningStar assumed management of this 148-unit independent and assisted living community in 2021 it was census-challenged. Today it maintains nearly full occupancy.
The complex, developed in 2002, totals 155,600 square feet. It has a mix of assisted living and independent living units, including 95 one-bedroom units, 49 two-bedroom units and four studios.
For more than 25 years, our team of experts at Ventas has delivered outsized value through real estate that benefits a large and growing aging population. With a proven strategy and high-quality portfolio, we enable exceptional environments that support health and longevity through community, care and research.
Headquartered in Denver, Colorado, MorningStar executives support local operations with a significant degree of touch and an array of centralized resources for its geographic footprint in the western half of the U.S. (Find Your MorningStar). Offering independent living, assisted living and memory care, MorningStar is privileged to elevate life for those who taught the rest of us how to live.
Our portfolio encompasses 40+ communities in operation or under development, representing 5,000+ units with an ownership interest in the majority. Whether for a new build, acquisition or turnaround property, MorningStar consistently delivers operating margins above industry norms and exceptional overall returns to investors and partners.
