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Bain Capital Real Estate and Capitol Seniors Housing Close Sale of Assisted Living/Memory Care Portfolio

October 27, 2021

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Bain Capital Real Estate and Capitol Seniors Housing Close Sale  of Assisted Living/Memory Care Portfolio

BOSTON and WASHINGTON, D.C., October 27, 2021 - Bain Capital Real Estate and Capitol Seniors Housing today announced the sale of an Assisted Living/Memory Care (“AL/MC”) portfolio consisting of seven properties.  Financial terms of the private transaction were not disclosed.

The assets in the AL/MC portfolio are located across four states and consist of 598 units.  The communities feature numerous services and upscale amenities available to residents including, a concierge team, beauty salon and spa, movie theater, restaurant-style dining rooms, resort-style living rooms, sunny courtyards and patios, and personal linen, laundry and housekeeping services.

Bain Capital Real Estate and Capitol Seniors Housing started building the portfolio in 2015 through an initial acquisition and subsequent greenfield developments. 

“We continue to have high conviction in senior housing and believe the sector is poised to benefit from improved market fundamentals and compelling secular trends as the recovery from the COVID-19 pandemic continues to take shape,” said Kavindi Wickremage, a Managing Director at Bain Capital Real Estate.  “The sale of this high-quality, geographically diversified portfolio is a continuation of our long-standing partnership with Capitol Seniors Housing that focuses on creating best-in-class senior living communities that meet the evolving needs of residents.” 

“We’re grateful to our partner Bain Capital Real Estate and all the parties that made this transaction happen,” said Scott Stewart, Managing Partner at Capitol Seniors Housing. “This closing helps move the industry further into the post-Covid era and solidifies our belief set long ago that the seniors housing market is receptive to Class A-plus new builds in strong, high barrier-to-entry markets. We continue to carry this strategy forward with a robust pipeline of new construction that will deliver in time to address the zenith of the Baby Boomer demographic and their families.”   

About Bain Capital Real Estate
Bain Capital Real Estate was formed in 2018 and pursues investments in often hard-to-access sectors underpinned by enduring secular trends that drive long-term demand growth for real estate assets and services. The Bain Capital Real Estate team has been executing its strategy since 2010 (formerly as a part of Harvard Management Company), having invested over $5.2 billion of equity as-of March 31, 2021 in over 475 assets across multiple sectors. Bain Capital Real Estate focuses on small to mid-sized assets where the team applies its deep industry expertise to accelerate impact and drive operational improvements. Bain Capital Real Estate’s strategy aligns with the value-added investment approach that Bain Capital pioneered and leverages the firm’s global platform and significant experience across asset classes to further bolster its insights and sourcing capabilities. For more information, visit https://www.baincapital.com/businesses/real-estate.

About Capitol Seniors Housing
Capitol Seniors Housing (CSH) prides itself on placing seniors first by creating comfortable, safe, state-of-the-art communities which residents are proud to call home. Founded on the principles of integrity, trust, and transparency, CSH consistently produces top-quality senior living communities and resident-centered life experiences for senior adults.

Based in Washington D.C., CSH is a private equity-backed real estate acquisition, development and investment management firm founded in 2003. CSH has successfully acquired or developed more than 120 senior housing communities and deployed over $2.5 billion of investment capital to date.