Confluent Senior Living Completes Sale of Fort Collins Senior Living Community

Kayne Anderson Real Estate acquires MorningStar of Fort Collins

DENVER – Confluent Senior Living, a subsidiary of Denver-based real estate investment and development firm, Confluent Development, is pleased to announce the sale of its MorningStar of Fort Collins senior living community.

Previously the owner of the project, Confluent Senior Living co-developed the community with its operating partner MorningStar Senior Living. MorningStar will maintain its role as operator for the community.

Located in southeast Fort Collins, the senior living community opened in December 2015. The 69,000-square-foot development includes 79 assisted living and memory care suites.

“We’re thrilled with the successful sale of this quality senior living asset,” said Marshall Burton, president and CEO of Confluent Development. “With the continued growth of our senior living portfolio, this sale highlights our team’s ability to deliver high-quality senior living communities primed for success and strong performance.”

Confluent and MorningStar have a strong history of partnering on senior living projects, having completed seven previous projects in Arizona, Colorado, Iowa and New Mexico, with three others currently under construction in Arvada, Colo.; Santa Fe, New Mexico; and Rio Rancho, New Mexico.

The Fort Collins community represents Confluent’s first sale of a senior living asset to Kayne Anderson Real Estate.

“After breaking ground on the project nearly four years ago, it is rewarding to see our team’s hard work come to fruition as we transition ownership of this community,” said John Reinsma, managing director of Confluent Senior Living. “We are proud of our role in helping to bring this community to Fort Collins seniors and their families, and it has been a pleasure to work with Kayne Anderson Real Estate on this transaction. We look forward to continuing our delivery of quality senior living developments in Colorado and beyond.”

About Confluent Senior Living:
Confluent Senior Living is a national investor and developer of senior housing projects. Confluent Senior Living partners with a variety of industry-renowned senior living operators across the U.S. An expert in developing, buying and selling senior living communities, Confluent Senior Living has a national senior housing portfolio of award-winning communities. Confluent Senior Living is a subsidiary of Confluent Development, a Denver-based, full-service real estate investment and development firm that owns and develops ground-up commercial real estate throughout the United States. For more information, visit ConfluentSeniorLiving.com.

About MorningStar Senior Living:
Founded in 2003 by Ken Jaeger and headquartered in Denver, Colorado, MorningStar Senior Living is a leading brand within the senior living landscape. A fully integrated developer, owner and operator of premier retirement communities, MorningStar’s portfolio encompasses over 30 communities and 4,000 units under operation or development. For more information, visit MorningStarSeniorLiving.com.

About Kayne Anderson Real Estate
Kayne Anderson Real Estate (KA Real Estate) is a leading real estate private equity investor in seniors housing, medical office and off-campus student housing. KA Real Estate has raised dedicated real estate private equity funds totaling approximately $7 billion in commitments, investing in opportunistic equity, core returns and real estate debt. KA Real Estate is part of Kayne Anderson Capital Advisors, L.P., a $25.5 billion alternative investment management firm (AUM as of 3/31/18) with more than 30 years of successful experience in the energy, infrastructure, growth capital, real estate, middle market credit and distressed municipal sectors. For more information, visit kaynecapital.com/strategies/real-estate-private-equity.