Morgan Stanley Investment Management, through investment funds managed by Morgan Stanley Real Estate Investing (MSREI), announced today the acquisition of a Class A seniors housing portfolio located in the Orlando and Tampa metropolitan areas. The portfolio includes two communities comprising 300 independent living, assisted living and memory care units serving residents in Central Florida. AgeWell Senior Living, a Florida-based seniors housing operator, will continue to operate the communities.

Commenting on the acquisition, Will Milam, Head of Morgan Stanley Real Estate Investing U.S., said: "This investment reflects our focus on high-quality seniors housing supported by durable, highly visible demand driven by long-term demographic trends. Together with AgeWell, we believe these modern communities are well positioned to serve the evolving healthcare and lifestyle needs of seniors in Central Florida by offering residents a continuum of care alongside resort-style amenities."

"We are proud to continue our stewardship of these outstanding communities alongside a new relationship with Morgan Stanley Real Estate Investing," said David Mills, President & COO, AgeWell Senior Living. "Together, we remain committed to delivering exceptional care and service to residents and their families while building on the strong foundation established at both communities."

Funds managed by MSREI have been actively investing in seniors housing since 2022 and today maintain ownership interests in 13 senior living communities across the United States. This acquisition expands MSREI’s seniors housing portfolio and reflects the firm’s continued focus on partnering with experienced operators to invest in high-quality communities in markets supported by favorable demographic trends.

About Morgan Stanley Real Estate Investing

Morgan Stanley Real Estate Investing is the global private real estate investment management business of Morgan Stanley. One of the most active property investors in the world for over three decades, MSREI employs a patient, disciplined approach through global value-add / opportunistic and regional core / core-plus real estate investment strategies. With 17 offices throughout the U.S., Europe and Asia, regional teams of dedicated real estate professionals combine a unique global perspective with local presence and significant transaction execution expertise. MSREI currently manages $58 billion of gross real estate assets worldwide on behalf of its clients.

About Morgan Stanley Investment Management

Morgan Stanley Investment Management, together with its investment advisory affiliates, has more than 1,300 investment professionals around the world and $2 trillion in assets under management or supervision as of June 30, 2026. Morgan Stanley Investment Management strives to provide outstanding long-term investment performance, service, and a comprehensive suite of investment management solutions to a diverse client base, which includes governments, institutions, corporations and individuals worldwide. For further information about Morgan Stanley Investment Management, please visit www.morganstanley.com/im.

About Morgan Stanley

Morgan Stanley (NYSE:MS) is a leading global financial services firm providing a wide range of investment banking, securities, wealth management and investment management services. With offices in 42 countries, the Firm's employees serve clients worldwide including corporations, governments, institutions and individuals. For more information about Morgan Stanley, please visit www.morganstanley.com.

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Devon Burgess

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Devon.Burgess@morganstanley.com