CHICAGO--(BUSINESS WIRE)--Affiliates of Senior Lifestyle Corporation and AEW Capital Management, L.P. (AEW) have acquired The Carlisle Palm Beach, an independent and assisted living community in Lantana, Palm Beach County, Fla. With the acquisition, Senior Lifestyle Corporation now manages 85 communities across the country, including six in Florida. AEW acquired the property on behalf of AEW Senior Housing Investors, LP.
“The Carlisle Palm Beach is an excellent addition to our family of communities,” said Jon DeLuca, Chief Executive Officer. “The community is prominently located steps from the ocean with great views and extensive amenity space that reflects the exceptional lifestyle we are committed to offering our residents.”
Located just south of Palm Beach, The Carlisle Palm Beach is one of the premier retirement communities in South Florida. The community, opened in 1999, features 250 independent living apartments and 60 assisted living and extended congregate care residences. Amenities include two dining rooms, a bistro, game rooms, cinema, salon, spa, fitness center, nine-hole putting green and art studio, as well as valet parking and dog-walking services.
“We plan on beginning interior and exterior capital improvements to the property that are largely cosmetic in nature,” said DeLuca. “At the same time, we will introduce our signature hospitality-focused service, dedicated care and wellness activities to enhance the experience of The Carlisle’s residents.”
“We are also excited about working with our new joint venture partner AEW,” added DeLuca. “AEW has been great to work with and shares our passion for providing the highest quality care and high-end services to our residents.”
About Senior Lifestyle Corporation
Chicago-based Senior Lifestyle Corporation, founded in 1985, is a leader in the development, operation and ownership of seniors housing and the implementation of innovative programs that help seniors enjoy healthier, more fulfilling lives. Senior Lifestyle offers independent living for every economic level, from luxury to mid-market to affordable. Daily services and activities are tailored to the needs and preferences of each community’s residents. For residents who require additional care, many communities also offer assisted living, memory care and skilled nursing. Long recognized among the industry’s top companies, Senior Lifestyle ranked as the 12th-largest manager and 14th-largest owner of seniors communities in the American Seniors Housing Association’s 2010 survey. Additional information is at www.seniorlifestyle.com.
About AEW
Founded in 1981, AEW Capital Management, L.P. (AEW) provides real estate investment management services to investors worldwide. One of the world’s leading real estate investment advisors, AEW and its affiliates manage over $30 billion of capital invested in $45 billion of property and securities in North America, Europe and Asia (as of December 31, 2010). Grounded in research and experienced in the complexities of the real estate and capital markets, AEW actively manages portfolios in both the public and private property markets and across the risk/return spectrum. AEW and its affiliates have offices in Boston, Los Angeles, London, Paris, Singapore and Hong Kong, as well as additional offices in nine European cities. For more information please visit www.aew.com.