American Healthcare REIT to Buy Kensington Senior Living for $572 Million
The healthcare REIT said the eight-community asset purchase extends its higher-acuity senior housing platform in affluent, supply-constrained U.S. markets.
American Healthcare REIT, Inc. (AHR) agreed to acquire Kensington Senior Living in an approximately $572 million asset purchase.
The deal is expected to close in the fourth quarter of 2026, subject to the satisfaction of specified closing conditions.
American Healthcare REIT, a real estate investment trust that acquires, owns, and operates clinical healthcare real estate, said the partnership advances its differentiated higher-acuity senior housing strategy and expands its operating platform across premier, supply-constrained U.S. markets. The company’s portfolio has focused primarily on senior housing communities, skilled nursing facilities, and outpatient medical buildings across the United States, the United Kingdom, and the Isle of Man.
Chairman and Chief Executive Officer Jeff Hanson framed the purchase as a continuation of a positioning effort rather than a one-off addition. “This transaction represents another example of the type of opportunity we have spent years positioning AHR to capture,” Hanson said. “We are acquiring Class A, luxury senior housing that is extraordinarily difficult to replicate in some of the most affluent and supply-constrained markets in the country, but the strategic value extends well beyond these eight communities.”
The eight communities sit in markets Hanson described as both affluent and supply-constrained, a combination that makes the assets hard to replace. The release did not break out unit counts, square footage, or a per-community price.
Senior housing buyers have been paying for exactly that scarcity. Chiron Real Estate Inc. (XRN) entered agreements in May 2026 to buy three luxury senior housing communities from Silverstone affiliates for $425 million, calling the submarkets premium and targeting affluent residents. Sonida Senior Living, Inc. (SNDA) completed a $1.8 billion merger with CNL Healthcare Properties in March 2026, creating a combined 153-community portfolio of about 14,700 owned units. National Healthcare Corporation (NHC) closed a $560 million purchase of 35 facilities from National Health Investors in July 2026.
AHR’s Kensington purchase is smaller than those recent senior housing combinations and is structured as an asset purchase rather than a merger or a lease-to-own conversion. The strategic value reaches beyond the eight communities, without a quantified pipeline or target portfolio size.
Closing remains conditional. The transaction is expected to close in the fourth quarter of 2026, subject to the satisfaction of specified closing conditions.