American Healthcare REIT to acquire senior living portfolio for $873M

American Healthcare REIT (NYSE: AHR) has announced the acquisition of eight senior living communities managed by Kensington Senior Living for $873 million. The deal includes 745 assisted living and memory care units located across California, Maryland, New York, and Virginia. The purchase price incorporates $56.5 million of existing agency debt, and the transaction is expected to close after August 31. Kensington Senior Living is expected to remain as the portfolio manager.

This acquisition is part of a broader expansion strategy for the Irvine, California-based REIT, which has completed $1.4 billion in senior living investments in 2026. The company’s current investment pipeline includes approximately $953 million in executed purchase agreements and $382.7 million in letters of intent.

In related financial news, analysts have adjusted their outlooks for the company. Royal Bank of Canada raised its price target for AHR to $61.00, maintaining an “outperform” rating. Other institutions, including Citigroup and Citizens, have also issued positive price targets and buy ratings, while Scotiabank recently lowered its target price to $51.00.