Chinese-Culture Aegis Gardens in Newcastle Sells for $72 Million as Harrison Street Buys Two Senior Communities in One Week
Aegis Gardens, a Chinese-culture senior living community in Newcastle, King County, Washington, has changed hands for $72 million. Citing King County records, real estate publication The Registry reported that the buyer is an affiliate of investment firm Harrison Street; the 110-unit community sold for about $655,000 per unit. The seller was Aegis Living, which operated the community.
Located by Lake Boren, Aegis Gardens is an assisted living and memory care community designed around Chinese culture for Chinese and Chinese American seniors, with dining, activities and care arranged around the daily habits of Chinese elders.
It was Harrison Street's second senior living acquisition in the Puget Sound region the same week: the firm also bought Aegis Living on Madison, on Seattle's Capitol Hill, for $58.4 million. The two deals show institutional capital's continued appetite for senior housing assets in the Seattle metropolitan area.
Aegis Living, headquartered in Bellevue, Washington, is a well-known assisted living and memory care operator with more than 30 communities in Washington, California and Nevada.
Source: The Registry
Published by GSM · USA (original Chinese edition)
Photo: 图：华盛顿州纽卡斯尔市的博伦湖，Aegis Gardens 安老社区坐落于湖畔（CC BY 2.0）。经 Wikimedia Commons。 / Photo: Lake Boren in Newcastle, Washington, beside the Aegis Gardens community (CC BY 2.0). Via Wikimedia Commons.
