Morgan Stanley expanded its senior housing portfolio with the purchase of three MorningStar Senior Living facilities around Denver for $305M. 
Kayne Anderson Real Estate sold the properties, and MorningStar will continue to operate them, according to a press release announcing the sale. 
The Denver Business Journal reported that the sale included MorningStar’s RidgeGate location, which sold for $105.8M. The community was built in 2015 and consists of 224 units on 5 acres in Lone Tree. Residences range from independent living to assisted living and memory care.
MorningStar, a Denver-based company, has 14 Colorado locations. 
Will Milam, head of U.S. investments at Morgan Stanley Real Estate Investing, said…