Clarion Partners and Franklin Templeton acquired an assisted living facility in Centennial, Colorado. They purchased the MorningStar at Holly Park, 6675 S. Holly St. for $88.6 million.
The Denver Business Journal reports the seller was Edgemark, who co-developed the facility with MorningStar Senior Living.
The 160-unit facility opened in early 2024. It includes 85 suites for independent living, 50 assisted living suites and 25 suites for memory care. MorningStar at Holly Park is fully occupied.
With this acquisition, MorningStar Senior Living’s portfolio includes 38 properties under operation or development, representing more than 5,000 units under management or in development in 11 states in the Midwest and western United States.
Another MorningStar facility in Parker was acquired by a company earlier this year for $63.7 million.
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