The Inland Real Estate Group recently acquired three senior living communities from Harrison Street, and there’s “no shortage of opportunities” for growth next year and beyond, according to Inland Real Estate Acquisitions Senior Vice President Matthew Tice.

The Oak Brook, Illinois-based organization currently owns 14 senior housing communities. In 2019, it launched a senior living investment platform with Spectrum Retirement.

The three communities sold by Harrison Street total are located in St. Peters, Missouri; Chandler, Arizona; and Hendersonville, Tennessee. They total 635 units with an average occupancy of 92%. As part of the acquisition, Inland has named Life Care Services, one of the nation’s largest senior living operators, to manage the communities.

Terms of the deal were not disclosed.

The communities are a “great example” of the types of properties Inland wants to continue to own and buy going forward, Tice told SHN.

He added that favorable demand trends, including the fact that all baby boomers will have reached the age of 65 by 2030, are helping fuel Inland’s bullish outlook on senior housing investment going forward.

“We believe there will be no shortage of opportunities in 2025 and beyond. While several factors are driving senior living demand growth, the aging U.S. population is increasing the need for communities and services,” Tice told SHN.

The communities were recently developed in a joint venture with Ryan Companies and LCS, with the sale by Harrison Street representing “ongoing investor interest” for senior housing, Harrison Street Head of Asset Management in North America Ben Mohns said in an issued statement following the deal.

“We are committed to working with partners to develop top-tier senior housing communities that address the evolving needs of our aging population, and then identify the optimal time to engage in portfolio sales to generate liquidity on behalf of our investors,” Mohns said.

Looking ahead, Inland plans to continue to grow its senior housing investment pipeline, identifying and acquiring properties with high-performing operators, growing partnership opportunities and “increasing our national footprint and investment in the space,” Tice added.