A giant of New York private equity has purchased a pair of retirement homes southeast of Denver as part of a billion-dollar deal announced in late March.
The Blackstone Group bagged the properties, both in Arapahoe County along the edge of Denver’s city limits, for a combined land purchase of more than $27 million, property records show.
The sales are a part of a deal announced last month, in which Blackstone purchased 64 Brookdale Senior Living properties owned by real estate investment trust HCP for $1.13 billion.
Blackstone declined to comment for this story. HCP did not return a message seeking comment.
There are seven Brookdale-branded retirement homes in Denver proper, according to Blackstone’s website. Only one of them, 111 Emerson St. near Alamo Placita Park, appears to be an HCP-affiliated owner. It had not traded hands as of Tuesday.
According to Arapahoe County property records, Blackstone purchased Brookdale Denver, an assisted living and short-term rehabilitation center at 2500 S. Roslyn St., for $23 million. HCP purchased the facility and its 5 acres for $17.5 million in 2003.
Blackstone also purchased a 3.5-acre Brookdale property at 1640 S. Quebec Way for $4.5 million. County records show HCP picked up that site for $7.5 million in 2012.
Both facilities were built in the late 1990s, according to property records. But plenty of younger models are coming on the market in Denver.
Last year Balfour Senior Living broke ground on two assisted living facilities – in Stapleton and in Littleton – adding to the 200 units the company opened in Union Station in 2015. And near the Tech Center, MGL Partners is working on a 163-unit senior living project.