Blue Moon, Aegis Form Joint Venture, Acquire Three West Coast Communities

BOSTON and SEATTLE — Blue Moon Capital Partners LP, a seniors housing private equity investor based in Boston, has formed an acquisition joint venture with Aegis Living, a Seattle-based owner-operator. 

As its first move, the joint venture has acquired three Class A seniors housing properties totaling 253 units in Bellevue, Wash.; Kirkland, Wash.; and Aptos, Calif. The buyers described the high barriers to entry and strong senior and adult-child demographics as reasons for selecting those markets.

This is the first time Aegis has joined with an institutional investor for an acquisition. The company’s portfolio includes 31 communities in Washington, California and Nevada. The amount of Blue Moon’s investment was not disclosed.

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