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aid press release. Contact the distributor for inquiries. NEW YORK, Dec. 4, 2025 – Morgan Stanley Investment Management and MorningStar Senior Living announced that Morgan Stanley Real Estate Investing (MSREI) has purchased a 463‑unit senior housing portfolio from Kayne Anderson Real Estate for $305 million. The three Denver‑area communities will remain operated by MorningStar.
Will Milam, Head of U.S. Investments at MSREI, said: “We are delighted to acquire this high‑quality portfolio, which has shown strong historical performance. As Baby Boomers age, demand for senior housing is accelerating. We anticipate the sector to grow ~5% annually over the next five years as this cohort expands.”
Jamie Ranzan, President and CIO of MorningStar, added: “MorningStar welcomes its new partnership with MSREI, beginning with these standout Colorado assets—a promising start to a robust future together.”
MSREI has been active in senior housing since 2022, now owning roughly 30 communities nationwide with nearly 3,000 units across independent, assisted, and memory‑care categories.
About MorningStar Senior Living: An integrated developer, owner, and operator of premium retirement communities, MorningStar manages 40 properties (5,000+ units) across 11 states, with 14 communities in Colorado and a workforce of over 1,300. They provide independent living, assisted living, and memory care, aiming to enhance the lives of those who taught us how to live. Visit morningstarseniorliving.com for more.
About Morgan Stanley Real Estate Investing: MSREI is Morgan Stanley’s global private real estate investment arm, managing $53 billion in assets worldwide. With 17 offices across the U.S., Europe, and Asia, MSREI applies a patient, disciplined approach through value‑add, opportunistic, and core‑plus strategies, leveraging global expertise and local presence.
