Investor buys South Boulder senior-living community
BOULDER — MorningStar of Boulder, a senior-living community on Table Mesa Drive in South Boulder, has been acquired by a holding company that appears to be affiliated with a private-equity investor with a portfolio of apartments geared toward retirees.
In a trio of transitions this month that totaled about $38 million, SHI-IV Boulder Owner LLC took over the adjacent properties at 4640 Table Mesa Drive, 575 Tantra Drive and 575 Tantra Drive, which are home to the MorningStar community.
MorningStar Boulder, according to BizWest reports, was built in 2014 as a 76,000-square-foot facility featuring 46 assisted-living suites and 44 memory-care suites dedicated to those who suffer from Alzheimer’s disease.
SHI-IV Boulder Owner LLC is registered to the Boston address of AEW Capital Management LP, an investment outfit with a large senior-living fund.
The sellers involved in the grouping of deals were 4640 Table Mesa LLC, which bought the five-acre site on which the community sits for $3.25 million in 2014, and OSI Boulder Exchange LLC, an entity registered to MorningStar’s address in Denver.
Source: BizWest