Chiron Real Estate publishes investor deck outlining portfolio transition toward senior housing operating assets
XRN•Asset sale and current portfolio mix
Chiron sold an IRF portfolio at a 7.3% cash cap rate, generating about $200 million of proceeds for reinvestment.
On a pro forma basis, SHOP assets represent 25% of gross real estate book value, while outpatient medical assets account for 75% of the portfolio, with 95% occupancy and $97.5 million in annualized cash NOI.
Portfolio transition toward SHOP assets
Chiron outlined a portfolio transition toward seniors housing operating (SHOP) assets, targeting higher long-term returns through capital recycling.
Capital moves and first SHOP acquisition
The company secured a $100 million strategic equity investment from Maewyn Capital Partners and cut the dividend to retain capital for growth.
Chiron also closed a $249 million acquisition of its first SHOP communities, with expected stabilized yields above 7%.
