Foundry Commercial Acquires Senior Living Sites in NJ and FL
Foundry Commercial and AEW have added two senior living communities in New Jersey and Florida to their expanding portfolio amid rising demand.
Foundry Commercial, partnering with institutional capital firm AEW, has acquired two senior living communities — one in New Jersey and one in Florida — as part of a broader push to expand its presence in the high-demand senior housing sector, the company announced Oct. 1 from its Tampa headquarters.
The acquisitions add what the company describes as best-in-market properties to its growing senior living portfolio, reflecting accelerating investor interest in premium residential care facilities driven by an aging U.S. population and tightening supply of quality units in key markets.
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The pairing of Foundry Commercial's operational expertise with AEW's institutional capital base signals a continued appetite among large real estate investors to deploy capital into the senior housing asset class, which has demonstrated resilience even during broader commercial real estate downturns.
Neither the purchase prices nor the specific locations of the two communities were disclosed in the announcement. The deals mark a geographic diversification for the portfolio, spanning the Northeast and Southeast regions of the United States — two areas with significant concentrations of retirement-age residents.
Continue reading at Real Estate for full details on the acquisitions and Foundry Commercial's senior living strategy.
