Healthcare REIT Enters Senior Housing Market With $425M Deal
Two months after rebranding and launching a new senior housing investment strategy, Chiron Real Estate has secured a major acquisition.
The Bethesda, Maryland-based company entered into agreements to buy three D.C.-area senior housing communities from Silverstone Senior Living for $425M, it announced Wednesday.
The trio includes two properties in Alexandria, Virginia: the 163-unit Landing at Alexandria that opened in 2022 and the 129-unit Riviera at Alexandria that opened in March. Chiron is bringing on Greystone to manage the two properties as a unified campus.
The Alexandria properties are selling for a combined $249M, and the deal is expected to close June 1. They sit within Potomac Yard, a growing mixed-use neighborhood a few miles south of Amazon's second headquarters.
The third property is the Pinnacle North Bethesda in Montgomery County. The 175-unit senior housing community, with ground-floor retail next to the Pike & Rose mixed-use district, is scheduled to open in October. The $176M sale is also expected to close in October, and Chiron also plans to bring on Greystone to manage it.
Chiron said it is managing them as senior housing operating properties, a model in which the owner is more exposed to the ups and downs of senior housing demand than if it leased the communities out to an operator. Tennessee-based REIT National Health Investors also uses this model.
The deal comes after Chiron changed its name in March from Global Medical REIT. Founded in 2014 and focused on the healthcare real estate sector, Global Medical REIT had a 5.2M SF portfolio at the time of the rebranding.
It said the rebrand came after evaluating its strategy and deciding to broaden its focus to include the senior housing sector. The sector has become a hot target for real estate investors as demand has outpaced supply, with baby boomers reaching retirement age and new development remaining difficult to finance.
More than $24B was spent on U.S. senior housing acquisitions in 2025, the most active year for the sector since 2015, according to JLL. In a survey of investors, 86% said they plan to expand their senior housing portfolios in 2026.
“These acquisitions represent Chiron’s initial entry into seniors housing and advance our strategy of investing in high-quality communities in supply-constrained markets,” Chiron CEO Mark Decker Jr. said in a statement. “We believe this is an attractive time to enter the sector given the favorable long-term demand outlook and limited new supply.”
