Health Wave Partners spent $63.7 million on the 191-unit MorningStar Senior Living of Parker complex, at 18900 E. Mainstreet in Parker. PGIM Real Estate was the seller. The Denver Business Journal reports PGIM paid $62.68 million for the property in 2019.
The three-building property was almost fully occupied at the time of the sale. The first building on the campus opened in 2012. It was expanded in 2014 and again in 2016.
The facility offers independent living, assisted living and memory care, according to MorningStar’s website. It includes multiple dining venues, landscaped courtyards, fitness and therapy spaces, along with social and wellness areas.
Health Wave Partners is a boutique investment firm that specializes in high-quality senior housing across the United States.
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