Upscale facility offers both assisted living and memory care residences

Clarion Partners, a leading real estate investment manager and majority-owned investment group of Franklin Templeton, today announced the acquisition of Clearwater at Sonoma Hills, a premier 94-unit senior living community in Rohnert Park, California. The acquisition further strengthens the firm's investment in high-quality senior housing assets located in attractive, supply-constrained markets with strong long-term demographic fundamentals.

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Clearwater at Sonoma Hills, a 94-unit senior living facility offering assisted living services and memory care support, is designed to be a vibrant extension of the active, friendly lifestyle that defines the Sonoma County region.

Built in 2020, Clearwater at Sonoma Hills features 70 assisted living residences and 24 memory care residences with capacity for 100 residents. The approximately 49,000-square-foot community offers a full suite of upscale amenities, including restaurant-style dining, a theater, art studio, fitness center, putting green, landscaped indoor and outdoor gathering spaces, and thoughtfully designed residences that support both independence and personalized care.

The transaction was arranged by CBRE, whose seniors housing investment sales team John Sweeny, Aron Will, and Austin Summy advised on the sale. Clearwater Living will continue as the property's operating partner, leveraging its established regional presence and resident-focused operating platform to build upon the community's strong performance.

"Clearwater at Sonoma Hills represents exactly the type of high-quality, institutional senior housing investment we seek—modern construction, exceptional operations, and an outstanding location supported by favorable long-term demographics," said Clarion Partners Head of Healthcare Julie Robinson. "We are pleased to expand our relationship with Clearwater and look forward to supporting the team as they continue delivering exceptional care and service to residents and their families."

John Sweeny, Co-Head National Senior Housing of CBRE added, "This transaction highlights the continued demand for well-located, high-performing senior housing communities. Clearwater at Sonoma Hills attracted significant investor interest because of its modern design, strong occupancy, and position within one of Northern California's most desirable markets."

"We're excited to continue managing Clearwater at Sonoma Hills and partnering with Clarion Partners to further enhance the resident experience," said Danielle Morgan, Chief Executive Officer of Clearwater Living. "Our team remains committed to providing exceptional hospitality, personalized care, and meaningful engagement for every resident."

Located in California's Sonoma County, the community benefits from favorable demographic trends, including projected growth in the affluent 80-plus population and limited competitive new supply, positioning the property for continued long-term success.

For more on Clarion’s view of high-quality senior housing as an investment opportunity, explore A Golden Opportunity for Senior Housing.

About Clarion Partners

Clarion Partners, an SEC registered investment adviser with FCA-authorized and FINRA member affiliates, has been a leading U.S. real estate investment manager for more than 40 years. Headquartered in New York, the firm maintains strategically located offices across the United States and Europe. With $72.6 billion in total real estate and debt assets under management as of March 31, 2026, Clarion Partners offers a broad range of real estate strategies across the risk/return spectrum to approximately 500 institutional investors across the globe. Clarion Partners is a majority-owned investment group of Franklin Templeton.

For more information visit www.clarionpartners.com or follow us on LinkedIn.

About CBRE

With more than 155,000 professionals in over 100 countries, CBRE is the global leader in commercial real estate services and investment and a premier provider of critical infrastructure services. CBRE offers a fully integrated platform of dedicated senior housing investment sales, debt and structured finance, investment banking, and valuation services.

To learn more, visit cbre.com or follow on LinkedIn.

About Clearwater Living

Clearwater Living® is committed to providing superior customer service and living experiences that celebrate individual relevance for residents, their families, and team members. Clearwater Living is growing through strategic acquisitions, development, and operational management of senior living communities throughout the western United States. Each Clearwater Living community practices a holistic approach to successful aging and personalized care that enhances residents’ daily lives. To learn more, visit ClearwaterLiving.com.

About Virtus

Virtus Real Estate Capital is one of the longest tenured private equity real estate fund managers in the U.S. focused exclusively on cycle resilient needs-based property sectors, such as healthcare, education, storage, and middle-income workforce housing. The Firm was founded in 2003 in Austin, TX. The Firm has acquired or developed more than 300 commercial properties totaling over $7 billion throughout the U.S. Virtus is known across the industry for its deep expertise in social infrastructure sectors and its commitment to all its stakeholders.

For more information on investment strategy and portfolio, please visit www.virtusre.com.

About Franklin Templeton

Franklin Resources, Inc. [NYSE: BEN] is a trusted investment partner, delivering tailored solutions that align with clients’ strategic goals. With deep portfolio management expertise across public and private markets, we combine investment excellence with cutting-edge technology. Since our founding in 1947, we have empowered clients through strategic partnerships, forward-looking insights, and continuous innovations – providing the tools and resources to navigate change and capture opportunity.

With more than $1.8 trillion in assets under management as of June 30, 2026, Franklin Templeton operates globally in more than 35 countries. To learn more, visit franklintempleton.com and follow us on LinkedIn.

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