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Morgan Stanley Real Estate Investing Completes Sale of Spring Arbor Senior Living Portfolio for $296 Million
NEW YORK, February 17, 2026--Morgan Stanley Investment Management, through funds managed by Morgan Stanley Real Estate Investing (MSREI), and Foundry Commercial (Foundry) announced today the sale of the final 11 communities in the Spring Arbor Senior Living collection located in Maryland and Virginia to an S&P 500 company focused on senior housing for $296 million.
About this update from Morgan Stanley
[{"type":"text","content":"NEW YORK, February 17, 2026--(BUSINESS WIRE)--Morgan Stanley Investment Management, through funds managed by Morgan Stanley Real Estate Investing (MSREI), and Foundry Commercial (Foundry) announced today the sale of the final 11 communities in the Spring Arbor Senior Living collection located in Maryland and Virginia to an S&P 500 company focused on senior housing for $296 million.","length":388,"tagName":"p"},{"type":"text","content":""We are proud to have been part of the Spring Arbor Senior Living Collection and of the partnership with Foundry to strengthen operations, improve performance and deliver high-quality care to our residents over the last four years," said Will Millam, Head of Morgan Stanley Real Estate Investing U.S. "This investment highlights MSREI’s ability to identify opportunities during periods of market dislocation, partner with best-in-class operators and create value through disciplined operational execution."","length":526,"tagName":"p"},{"type":"text","content":"MSREI initially acquired the Spring Arbor Senior Living collection of 25 communities located across Maryland, Virgina and North Carolina in partnership with Foundry Commercial between 2022 and 2023. This sale marks the full exit of the investment. The 11-community portfolio of 795 assisted living and memory care units surpassed a 90% occupancy rate in recent years and is well positioned for continued growth based on strong local-market fundaments.","length":451,"tagName":"p"},{"type":"text","content":""We appreciate MSREI’s partnership and working with them to provide quality care to our residents in a warm and inviting environment," said Kevin Maddron, President of Healthcare Services for Foundry. "Furthermore, we look forward to building upon the reputation of these communities and the care our associates deliver with the new owner."","length":360,"tagName":"p"},{"type":"text","content":"Funds managed by MSREI have been actively investing in senior housing since 2022 and today have an ownership interest in approximately 11 senior living communities across the United States with nearly 2,000 independent living, assisted living and memory care units.","length":265,"tagName":"p"},{"type":"text","content":"JLL Capital Markets advised the sellers on the transaction.","length":59,"tagName":"p"},{"type":"tex...