Town Lane Buys Gulf Coast Senior Housing Asset
The community includes the full spectrum of senior living arrangements.
Town Lane has acquired The Goldton at Venice, a 167-unit senior living community located in Venice, Fla. The developer, DMK Development Group, was the previous owner and seller. The property offers the full spectrum of living arrangements, including independent living, assisted living and memory care units. DMK completed construction of the property in 2023.
The deal was off market. Neither party disclosed financial details of the transaction, but Business Observer reported that the buyer assumed a mortgage of about $25.7 million.
Serving all seniors
The Goldton includes 114 independent living units, 38 assisted living units and 15 memory care units. Alabama-based Atlas Senior Living, a senior housing property management firm will continue operating the property following the transaction. Atlas currently manages eight senior housing communities in Florida.
Common-area amenities at the Goldton include a number of dining venues, a fitness and wellness center, heated saltwater swimming pool and sports bar. There is a spa, salon and barbershop, along with a movie theater. Other sports options at the property include a putting green and pickleball court.
READ ALSO: How Outdoor Amenities Help Residents Live Healthier Lives
For resident engagement, Goldton offers a library, creative arts center and theater on site. The community is near downtown Venice and less than a mile from Sarasota Memorial Hospital.
New York-based Town Lane is prioritizing recently built, full-continuum assets in growing markets, according to Managing Partner Tyler Henritze in a statement. “The underlying fundamentals within this market and senior housing broadly are compelling,” he said.
Town Lane was founded in 2024 after raising $1.25 billion of investor capital. The company recently acquired Discovery Village Sarasota Bay, which was built in 2022, as well as Discovery Village Naples, built in 2020.
Positive fundamentals going into H2
Senior housing occupancy nationwide ticked up in the second quarter of 2025 by 0.8 percentage points to 88.1 percent, driven by net absorption outpacing the number of new units arriving online, according to NIC, which tracks properties in 31 markets. That counts as a record high, the organization notes.
In the second quarter of this year, independent living properties enjoyed an average occupancy rate of 89.7 percent, while assisted living increased to 86.4 percent.
In terms of returns, senior housing in the second quarter of 2025 outperformed the broader Expanded NCREIF Property Index by 85 basis points, with the index posting a total return of 1.23 percent. Senior housing posted a total return of 2.08 percent during the same period.
