Artemis Real Estate Partners has acquired The Arbor at Delray, a recently completed senior-living community in Palm Beach County, for $140 million. The transaction ranks among South Florida’s largest recent senior-housing sales and highlights continued investor demand for newer assisted-living properties in a retirement-focused market.
Key takeaways
The deal brings a new institutional owner to one of the region’s newer senior-care properties.
- Buyer: Artemis Real Estate Partners
- Seller: An affiliate of PGIM Real Estate
- Property: The Arbor at Delray
- Sale price: $140 million
- Size: 207 apartments across 225,000 square feet
- Location: 6589 and 6595 Morikami Park Road, Palm Beach County
The property changed hands at approximately $676,329 per apartment, according to property records and real estate database Vizzda.
A major South Florida senior-housing transaction
The Arbor is a four-story assisted-living community completed in 2023 on a 7.2-acre site near Delray Beach. Its relatively recent construction likely contributed to the premium valuation, giving Artemis exposure to a modern asset with substantial remaining useful life and fewer near-term capital needs than an older facility.
The sale was recorded as the most expensive commercial transaction highlighted in South Florida deal reports for the period ending Aug. 14, 2026. The buyer was identified through an affiliated limited liability company tied to Artemis, an investment manager headquartered in Chevy Chase, Maryland.
Artemis expands its healthcare real estate position
Artemis is led by Deborah Harmon and Alex Gilbert and invests across multiple real estate sectors. The acquisition adds a sizable senior-living property to its portfolio at a time when demand for specialized housing and care services continues to attract institutional capital.
For PGIM Real Estate, the sale represents an exit from an asset developed with backing connected to the firm. In 2021, Alliance Residential Company secured a $45.7 million construction loan from Comerica Bank for the facility, according to reported property records.
Investor interest follows Florida’s aging population
Florida’s large retiree population has helped make assisted living one of the more resilient segments of the real estate market. Investors often view senior housing as less sensitive to short-term office, retail or general economic cycles because demand is tied to demographic needs and access to care.
Recent transactions underscore that interest. A 68-unit assisted-living group home in Lauderhill sold for $20 million earlier in 2026, while other senior-living properties in Delray Beach and Davie also traded in the past year. Developers are pursuing additional facilities, including a proposed 164-bed community in Davie.
Supply remains a central concern
The investment momentum comes alongside concerns about whether South Florida has enough assisted-living capacity. Local planning discussions have pointed to a gap between available beds and the number of residents who may need senior-care services, particularly in Broward and Palm Beach counties.
The Arbor’s sale does not add new units to the market, but its high valuation signals that well-located, newer communities remain attractive to buyers. As operators and developers respond to demographic growth, competition for modern senior-living assets is likely to remain strong.
- South Florida Top Real Estate Deals: Aug. 14, 2026, The Real Deal.
- PGIM Sells Florida Assisted Living Complex for $140 Million, The Real Deal.
- PGIM Real Estate sells the Arbor at Delray assisted living to Artemis Real Estate Partners, The Business Journals.