LITTLETON, Colo. — CBRE has arranged the sale of MorningStar of Littleton, an 85-unit assisted living and memory care community in the Denver suburb of Littleton.
A joint venture between Kayne Anderson Real Estate and MorningStar Senior Living acquired the property from an institutional investor. Lisa Widmier of CBRE National Senior Housing represented the seller.
Although the sale price was not disclosed, Aron Will of CBRE National Senior housing arranged $20.5 million in acquisition financing on behalf of the buyers. CBRE Multifamily Capital originated the 10-year, fixed-rate, interest-only loan through Fannie Mae.
MorningStar has operated the property since its completion in 2006, and will continue to do so following the acquisition.