Grapevine, TX-based Pegasus Senior Living has added 10 Texas communities previously managed by Brookdale Senior Living to its portfolio, expanding its presence across Houston, Dallas-Fort Worth and the Austin-San Marcos corridor, with Denver-based real estate investment trust Healthpeak Properties as its capital partner.
The additions, which push Pegasus over the 50-community mark, are part of a broader operator transition involving Healthpeak-owned communities as the REIT prepares for the spin-off of Janus Living, a pure-play senior housing REIT that will be the home of Healthpeak’s 34-community, 10,422-unit senior housing portfolio as well as new acquisitions and developments. The existing 34-community portfolio includes 19 senior living communities transitioning from Brookdale to Pegasus and Ciel Senior Living as well as 15 continuing care retirement / life plan communities managed by LCS (13) and Sunrise Senior Living (2).
Healthpeak previously said that 11 of the communities managed by Brookdale would move to Pegasus; Tuesday, the operator told McKnight’s that the 11th one will transition at a later date…