Confluent Senior Living Completes Sale of Fort Collins Senior Living Community
DENVER – Confluent Senior Living, a subsidiary of Denver-based real estate investment and development firm, Confluent Development, recently announced the sale of its MorningStar of Fort Collins senior living community.
Previously the owner of the project, Confluent Senior Living co-developed the community with its operating partner MorningStar Senior Living. MorningStar will maintain its role as operator for the community.
Located in southeast Fort Collins, the senior living community opened in December 2015. The 69,000-square-foot development includes 79 assisted living and memory care suites.
“We’re thrilled with the successful sale of this quality senior living asset,” said Marshall Burton, president and CEO of Confluent Development. “With the continued growth of our senior living portfolio, this sale highlights our team’s ability to deliver high-quality senior living communities primed for success and strong performance.”
Confluent and MorningStar have a strong history of partnering on senior living projects, having completed seven previous projects in Arizona, Colorado, Iowa and New Mexico, with three others currently under construction in Arvada, Colo.; Santa Fe, New Mexico; and Rio Rancho, New Mexico.
The Fort Collins community represents Confluent’s first sale of a senior living asset to Kayne Anderson Real Estate.
“After breaking ground on the project nearly four years ago, it is rewarding to see our team’s hard work come to fruition as we transition ownership of this community,” said John Reinsma, managing director of Confluent Senior Living. “We are proud of our role in helping to bring this community to Fort Collins seniors and their families, and it has been a pleasure to work with Kayne Anderson Real Estate on this transaction. We look forward to continuing our delivery of quality senior living developments in Colorado and beyond.”
Photo courtesy of Patterson Photography