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Artemis buys senior living asset in Delray Beach for $140M
The deal adds to a recent surge in U.S. senior housing transactions, with more than $12.1B traded in Q1, the most in at least 20 years.
Two senior living facilities in South Florida have been sold in separate transactions totaling $172M, reflecting continued investor demand for the sector, according to Bisnow.
Artemis Real Estate Partners-backed entities bought the four-story Arbor at Delray at 6595 Morikami Park Road for $140M from PGIM Real Estate. The property is a 207-unit, 225K SF facility built in 2023, offering independent living, assisted living, and memory care, with pricing shown on the project website.
In another deal, Meridian Senior Living purchased The Preserve at Palm-Aire in Pompano Beach for $32M from The Carlyle Group. The seven-building, 3701 W. McNab Road community spans 318K SF and includes independent and assisted living, plus memory and respite care, according to the facility website.
Bisnow also cited MSCI data showing more than $12.1B of U.S. senior living property trades in the first quarter, the most of any quarter in at least 20 years, as additional proof of the sector’s recent activity. In the same roundup, it noted Meridian Senior Living and other investors have been active across the region’s real estate market.