Orlando, Fla. (PRWEB) December 19, 2013
CNL Lifestyle Properties, Inc., a real estate investment trust (REIT), has acquired MorningStar at Dayton Place, a senior housing community in Aurora, Colo., for approximately $29.9 million. The property will continue to be managed by MorningStar Senior Living, its current operator. MorningStar Senior Living currently has 21 properties with a total of 2,552 units under management or in development in six states, including six other senior housing communities in the Denver area.
MorningStar at Dayton Place has 238 living units, with a mix of independent living, assisted living and memory care. The main campus was built in 1987 and underwent a $1 million renovation in 2010. An additional 41 cottages were added to the community in 2009. As of Dec. 9, 2013, MorningStar at Dayton Place was 84.5 percent occupied.
“We are delighted to add MorningStar at Dayton Place to CNL Lifestyle Properties’ portfolio of senior housing communities,” said Stephen H. Mauldin, president and CEO of CNL Lifestyle Properties. “MorningStar is known in the senior housing industry for creating a positive and nurturing environment for residents. We know they share our values of ensuring the highest quality of care and look forward to growing our relationship with them as they manage this community.”
The city of Aurora is a suburb to the southeast of Denver, and is the third most populous city in Colorado. MorningStar at Dayton is primarily surrounded by residential neighborhoods and multifamily developments. This senior housing community is located about 12 miles from Denver’s central business district.
“We look forward to growing our relationship with CNL Lifestyle Properties through our continued management of MorningStar at Dayton Place,” said Ken Jaeger, president and CEO of MorningStar Senior Living. “This partnership allows us to not only work with an owner who is committed to the senior housing sector, but it will also grow our already sizeable presence in the Denver market.”
For more information on MorningStar Senior Living, visit http://www.MorningStarSeniorLiving.com.
About CNL Lifestyle Properties
CNL Lifestyle Properties, Inc. is a real estate investment trust that owns a portfolio of 139 properties in the United States and Canada in the lifestyle sectors. Headquartered in Orlando, Fla., CNL Lifestyle Properties specializes in the acquisition of ski and mountain lifestyle, attractions, golf, marinas, senior housing and additional lifestyle properties. For more information, visit http://www.CNLLifestyleREIT.com.
About CNL Financial Group
CNL Financial Group (CNL) is a leading private investment management firm providing global real estate and alternative investments. Since inception in 1973, CNL and/or its affiliates have formed or acquired companies with more than $28 billion in assets. CNL is headquartered in Orlando, Florida. For more information, visit http://www.cnl.com.
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