Senior Living Dealbook: MorningStar Recapitalizes River Oaks Property; Northstar Senior Living, Alta Senior Living Form Partnership

MorningStar Senior Living announced it has recapitalized its MorningStar Senior Living at River Oaks community to TPG Angelo Gordon U.S. Real Estate.

MorningStar co-developed the 112-unit community, which opened in 2021, according to a press release.

The operator will maintain management of the community through a long-term agreement, the release states.

Senior Living Investment Brokerage facilitated the sale of a 62-bed senior living community in Hillsboro, Oregon.

The property was sold by an institutional property owner looking to divest a non-core asset, a press release states.

It was purchased by a regional owner-operator looking to expand its portfolio in Oregon. Following the acquisition, the buyer is “executing a capital improvement plan and will increase the licensed memory care bed count.”

Northstar Senior Living and Alta Senior Living have formed a partnership after working alongside Blueprint through a recapitalization process.

The Alta and Northstar merger will operate collectively going forward under the Northstar Senior Living brand, according to a press release.

This is Blueprint’s second major recapitalization project since 2023, the release states.

Coastal States Bank announced it closed a bridge loan for a joint venture between Winterpast Capital Partners, Vitality Senior Living Management and Virtus Real Estate Capital.

The loan was used to acquire a 97-unit assisted living and memory care community in Dallas, Texas, a press release states.

The community was acquired in December 2023 by a different joint venture between Vitality, Winterpast and another equity group, as a skilled nursing facility, the release states.

Andrew Christman is a reporter for Senior Housing News as part of WTWH Media, an avid reader and writer. He enjoys new book finds from his local library, and playing tabletop games with friends.