Morgan Stanley Real Estate Investing has acquired a two-property Class A senior housing portfolio in the Orlando and Tampa metropolitan areas, expanding a national senior living investment strategy launched in 2022.
The portfolio includes approximately 300 independent living, assisted living and memory care units across two Central Florida communities.
AgeWell Senior Living will continue operating both properties following the acquisition.
Morgan Stanley is positioning the investment around long-term demographic demand for senior housing and the ability to provide multiple levels of care within the same community.
The portfolio’s structure enables residents to access independent living, assisted living and memory care services as their needs evolve.
Funds managed by MSREI have been investing in the senior housing sector since 2022.
Including the newly acquired properties, those funds now maintain ownership interests in 13 senior living communities across the U.S.
The strategy pairs Morgan Stanley’s real estate capital with experienced local and regional operating partners.
AgeWell will retain responsibility for resident care and daily operations, providing continuity for residents and families following the ownership transition.
The transaction also increases Morgan Stanley’s exposure to Florida, where population growth and an expanding senior demographic have attracted substantial investment across healthcare and age-oriented residential real estate.
MSREI manages approximately $58 billion in gross real estate assets globally across value-add, opportunistic, core and core-plus strategies.
Its parent investment management platform, Morgan Stanley Investment Management, had more than $2 trillion of assets under management or supervision as of June 30, 2026.
KEY QUOTES:
“This investment reflects our focus on high-quality seniors housing supported by durable, highly visible demand driven by long-term demographic trends.”
Will Milam, Head Of Morgan Stanley Real Estate Investing U.S.
“We remain committed to delivering exceptional care and service to residents and their families while building on the strong foundation established at both communities.”
David Mills, President And COO Of AgeWell Senior Living