Chiron Real Estate Inc. Completes Acquisition of Inaugural SHOP Communities
–Inaugural Senior Housing Investments Position Company for Growth–
Chiron Real Estate Inc. (NYSE: XRN) (the “Company” or “Chiron”), announced today that it has completed the previously announced acquisition of The Landing (the “Landing”) and The Riviera (the “Riviera”), two premier senior living communities located in the Washington, DC MSA, from affiliates of Silverstone Senior Living (“Silverstone”) for an aggregate purchase price of $249 million.
“Crossing the finish line on this transaction represents a significant milestone for Chiron as we successfully enter the senior housing space,” said Mark Decker, Jr., Chief Executive Officer of Chiron Real Estate Inc. “The Landing and Riviera form an exceptional community in a high-barrier sub-market, and we are excited to partner with Greystone and Silverstone to deliver an elevated living experience. For our investors, we believe that this transaction exemplifies the disciplined capital deployment principles that will shape our next chapter of growth.”
The Landing and Riviera comprise a combined 292 homes, including a mix of independent living (169 homes), assisted living (89 homes), and memory care (34 homes). The Landing and Riviera are neighboring communities that will be operated as a unified campus, driving a superior resident experience.
