Clarion Partners, a New York City-based real estate investment manager, has expanded into the senior housing sector with its acquisition of Sancerre at Atlee Station from NexCore Group and its wholly owned subsidiary Experience Senior Living and its Sancerre brand.
As part of the transaction, Clarion created a strategic partnership with Experience Senior Living which will continue to manage and operate the community. Located in Mechanicsville, Virginia, Sancerre at Atlee Station opened in September 2023 and reached 90% occupancy by October 2024.
The financial aspects of the deal were not disclosed.
“Senior housing is a high conviction strategy for Clarion; as such, we are thrilled to enter into this relationship with NexCore and Experience Senior Living through the acquisition of a Class A community in a market with strong fundamentals,” said Clarion Partners Head of Healthcare Julie Robinson. “We could not be more excited to work with this team, who we view as a leader in the sector, creating amazing living environments for seniors and expanding the workforce in their local markets.”
“ESL is thrilled to partner with Clarion and continue operating this vibrant community, which we designed, built and operated from its inception,” added Phill Barklow, president of Experience Senior Living. “Our team remains deeply committed to ensuring continuity for residents and families while maintaining the elevated hospitality-driven experience that sets Sancerre apart.”
