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Clarion Partners and Franklin Templeton have acquired MorningStar at Holly Park, a recently delivered senior housing community in Centennial, Colorado. The institutional investors purchased the assisted living facility for $88.6 million, according to a report citing the transaction details. The property is located at 6675 S. Holly St. and represents a sizable investment in a relatively new addition to the region’s senior living inventory.
The seller was Edgemark, which co-developed the community with MorningStar Senior Living. The facility opened in early 2024, positioning it as a modern option in the market for independent living, assisted living, and memory care services. The deal reflects continued investment interest in newer, purpose-built senior housing assets with established occupancy.
MorningStar at Holly Park comprises 160 units across multiple care levels. The community includes 85 suites dedicated to independent living, 50 suites for assisted living residents, and 25 suites designated for memory care. The property is reported to be fully occupied, suggesting strong demand for senior living accommodations in the Centennial area and a stabilized income profile at the time of sale.
The transaction also aligns with the growth trajectory of MorningStar Senior Living’s broader portfolio. With the inclusion of this asset, MorningStar Senior Living is associated with 38 properties that are either in operation or under development. Across these properties, the platform represents more than 5,000 units that are under management or in various stages of development across 11 states in the Midwest and western United States.
The sale of MorningStar at Holly Park follows another transaction involving the brand earlier in the year. A separate MorningStar facility in Parker traded to a buyer for $63.7 million, underscoring ongoing capital flows into the senior housing sector in the region. While specific underwriting metrics such as cap rates or financing terms were not disclosed, the back-to-back trades highlight sustained investor appetite for well-leased, newer-generation senior living communities.
Details on future capital plans or operational changes at MorningStar at Holly Park were not provided. However, the combination of recent delivery, full occupancy, and institutional buyer interest indicates that the asset is positioned as a core senior housing holding within a broader multi-state portfolio strategy focused on the Midwest and western U.S. markets.
The post Clarion Partners, Franklin Templeton Acquire MorningStar at Holly Park for $88.6M in Centennial appeared first on CRE Market Beat.
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