Bain Capital JV Sells Senior Housing Portfolio
The properties include assisted living and memory care arrangements.
A joint venture between Bain Capital and Capitol Seniors Housing has sold a four-property, 344-unit portfolio of senior housing assets in the Chicago and Philadelphia metropolitan areas. JLL Capital Markets arranged the transaction. The buyer and acquisition price were not disclosed.
The four communities were developed by Capitol Seniors Housing between 2019 and 2023.
Two of the properties are located in the North Shore suburb of Chicago while the other half are in the Philadelphia area, with one located in Pennsylvania and the other in southern New Jersey.
Each property offers assisted living and memory care arrangements. Across the portfolio, residents have access to amenities including outdoor spaces, social events and daily activities.
One property included in the sale was Arbor Terrace Exton, in Exton, Pa. Capitol Seniors Housing developed the 88-unit, 78,000-square-foot community, which opened in 2021. Meyer Senior Living Studio designed the property while IMC Construction led construction.
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JLL’s National Seniors Housing Capital Markets team represented the sellers in the transaciton. The team included Senior Managing Directors Jay Wagner, Rick Swartz and Aaron Rosenzweig, alongside Senior Director Jim Dooley.
An active senior housing partnership
This portfolio is not the first time that Bain Capital and Capitol have worked together in the senior housing sector. In January 2026, the partners received $48 million to refinance two communities totaling 165 units. The properties included the Chelsea at New City in New City, New York, and The Chelsea at Washington Township in the Township of Washington, New Jersey.
In 2022, the companies partnered on the acquisition of NorthStar Georgetown, a 210-unit age-restricted community in Georgetown, Texas. The joint venture secured a $41.8 million loan for the $55.7 million sale.
The portfolio transaction comes as demand continues to outpace supply in the sector. Overall occupancy reached 89.5 percent in the first quarter of 2026 and is expected to surpass 90 percent later this year, according to NIC MAP data. Meanwhile, the number of senior housing units under construction declined for the 17th consecutive quarter and was down 9 percent year-over-year.
