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“I’d wanted to do seniors housing as a career since I was 14 or 15,” says Serena Lipton.
Um, what?
“We had to do volunteer hours when I was in high school, and I chose to start off volunteering at the place where my great-aunt was living, a Hebrew senior rehab,” says Lipton (SHA’18,’23). “Even after she passed away, I never wanted to stop volunteering there. It ended up becoming an internship. I worked there and at other senior facilities through high school. And I kind of knew this was what I wanted to do the rest of my life.”
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3 Firms Guide $350M Senior Living Real Estate Venture
Law360 (January 12, 2021, 4:38 PM EST) Assisted living provider Aegis Living and private equity investor Blue Moon Capital Partners said Tuesday they have teamed up to purchase more than $350 million in senior living real estate, with guidance from Pacifica Law Group, Mayer Brown and Reinhart Boerner.
The 10 senior living communities span California, Washington and Nevada and contain a total of 702 units dedicated to assisted living and memory care apartments, the announcement said. Aegis Living, a Washington State-headquartered provider of assisted living and memory care, said the transaction is its largest to date.
BELLEVUE, WA - Aegis Living, a leading provider of assisted living and memory care, and Blue Moon Capital Partners LP, a prominent senior housing private equity investor, announced a second joint venture with the acquisition of 10 communities across California, Washington and Nevada.
The largest deal in Aegis Living s 24-year history includes more than $350 million in senior living real estate, supporting the company s dedication to owning its communities and goal of growing rapidly over the next 10 years. The 702-unit portfolio consists of assisted living and memory care apartments all in urban, high-barrier-to-entry markets with attractive demographics and limited existing supply. Aegis Living previously operated these communities under a lease. With today s announcement, Aegis has ownership in more than 70% of its 32 communities.