CBRE Capital Markets’ National Senior Housing team has arranged the sale of The Morningside House Mid-Atlantic Portfolio, a 526-unit assisted living and memory care portfolio to an affiliate of HCP Inc., for $186.25 million or $354,424 per unit.

CBRE’s Lisa Widmier along with Matthew Whitlock represented the seller, a joint venture between Morningside House Senior Living and Harrison Street Real Estate Capital.

“This transaction had multiple moving parts, including a new operator—Senior Lifestyle— partnering with a new REIT relationship, and a long HUD debt assumption approval process,“ said Ms. Widmier, Executive Vice President, CBRE National Senior Housing.

Developed between 1993 and 2013, the Morningside House Mid-Atlantic Portfolio consists of seven properties located in the greater Baltimore, Maryland and Washington, D.C. areas.

CBRE’s National Senior Housing team consists of 15 professionals with more than half a century of combined senior housing experience. CBRE’s 2015 senior housing transaction volume of $2.8 billion (combined debt and sales) represented 20 percent of the estimated volume for the entire senior housing intermediary industry during the year. With over $4.5 billion in combined year-to-date transaction volume, 2016 deal flow has already significantly exceeded 2015.

About CBRE Group, Inc.

CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2015 revenue). The company has more than 70,000 employees (excluding affiliates), and serves real estate investors and occupiers through more than 400 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.