Construction commenced in June 2017 on Daymark Living, an independent living facility for adults with Intellectual and Developmental Disabilities (“IDD”). Daymark Living will be located in Waxahachie, Texas, approximately 20 miles south of downtown Dallas. The facility will include 200 beds in cottages on a sprawling property which includes a clubhouse, game room, swimming pool, basketball courts, classrooms and a theater.
MSP closed on an investment in Storage Post, a growing self-storage operator with whom it has previously partnered. Storage Post’s leadership team has more than 100 years of collective expertise within the storage and real estate industries. The President and CEO acquired Storage Post in 2010 and has grown the company to over 40 assets totaling $1 billion in value. Storage Post’s portfolio consists of high-quality self-storage assets strategically located within strong markets across the East Coast, concentrated in metropolitan New York, the Southeastern United States, and South Florida.
MSP acquired Vie at Murfreesboro, a 696-bed purpose built student housing community serving Middle Tennessee State University in Murfreesboro, TN. The property had recently undergone a $2 million unit upgrade program that resulted in the operational stabilization of the property, and MSP spent an additional $1 million to upgrade the common areas and amenities. Through this investment, MSP gained exposure to student housing in a solid student housing market that has no new planned supply for the foreseeable future.
MSP has entered into a programmatic joint venture with Sage Senior Living for the potential acquisition, development or re-development of seniors housing facilities, including independent living, assisted living and memory care facilities primarily targeted at seniors in the Mid-Atlantic and Northeast regions of the United States.