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<\/a><\/a>\nBuilt 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.<\/p>
\nThe transaction was arranged by CBRE<\/b>, whose seniors housing investment sales team John Sweeny, Aron Will, and Austin Summy advised on the sale. Clearwater Living<\/b> 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.<\/p>
\n\"Clearwater at Sonoma Hills represents exactly the type of high-quality, institutional senior housing investment we seek\u2014modern construction, exceptional operations, and an outstanding location supported by favorable long-term demographics,\" said Clarion Partners Head of Healthcare Julie Robinson<\/b>. \"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.\"<\/p>
\nJohn Sweeny, Co-Head National Senior Housing<\/b> 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.\"<\/p>
\n\"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<\/b> of Clearwater Living. \"Our team remains committed to providing exceptional hospitality, personalized care, and meaningful engagement for every resident.\"<\/p>
\nLocated 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.<\/p>
\nFor more on Clarion\u2019s view of high-quality senior housing as an investment opportunity, explore A Golden Opportunity for Senior Housing<\/a>.<\/p> \nAbout Clarion Partners<\/b><\/p> \nClarion 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.<\/p> \nFor more information visit www.clarionpartners.com<\/a> or follow us on LinkedIn<\/a>.<\/p> \nAbout CBRE<\/b><\/p> \nWith 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.<\/p> \nTo learn more, visit cbre.com<\/a> or follow on LinkedIn<\/a>.<\/p> \nAbout Clearwater Living<\/b><\/p> \nClearwater Living\u00ae 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\u2019 daily lives. To learn more, visit ClearwaterLiving.com<\/a>.<\/p> \nAbout Virtus<\/b><\/p> \nVirtus 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.<\/p> \nFor more information on investment strategy and portfolio, please visit www.virtusre.com<\/a>.<\/p> \nAbout Franklin Templeton<\/b><\/p> \nFranklin Resources, Inc.<\/a> [NYSE:BEN] is a trusted investment partner, delivering tailored solutions that align with clients\u2019 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 \u2013 providing the tools and resources to navigate change and capture opportunity.<\/p> \nWith 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<\/a> and follow us on LinkedIn<\/a>.<\/p> \nAn institutional-grade or institutional-quality property generally refers to a property of sufficient size and stature to merit attention from large national or international investors.<\/p> \nCharacteristics and holding weightings are based on the total portfolio and are subject to change at any time; they are provided for informational purposes only. This information should not be construed as a recommendation to purchase or sell any security. There can be no assurance that any unrealized investment described herein will prove to be profitable.<\/p> \nBEFORE INVESTING, CAREFULLY CONSIDER A FUND\u2019S INVESTMENT OBJECTIVES, RISKS, CHARGES AND EXPENSES. YOU CAN FIND THIS AND OTHER INFORMATION IN EACH PROSPECTUS, AND SUMMARY PROSPECTUS, IF AVAILABLE, AT WWW.FRANKLINTEMPLETON.COM<\/a> OR CONTACT YOUR FRANKLIN TEMPLETON REPRESENTATIVE. PLEASE READ THE PROSPECTUS CAREFULLY BEFORE INVESTING.<\/p> \nInvestment Risks<\/b><\/p> \nPast performance is no guarantee of future results. All investments involve risk, including loss of principal. Diversification<\/b> does not ensure against loss. An investment should be considered long-term within a multi-asset portfolio and should not be viewed individually as a complete investment program. The Fund is subject to a high degree of risk; <\/b>additional risk considerations are listed below:<\/p> \nReal Estate Investment Risks:<\/b><\/p> \nThe Fund\u2019s investments are highly concentrated in real estate investments and therefore will be subject to the risks typically associated with real estate, including but not limited to fluctuations in lease occupancy rates and operating expenses, variations in rental schedules, which in turn may be adversely affected by local, state, national or international economic conditions. Such conditions may be impacted by the supply and demand for real estate properties, zoning laws, rent control laws, real property taxes, the availability and costs of financing, and environmental laws.<\/p> \nFurthermore, investments in real estate are also impacted by market disruptions caused by regional concerns, political upheaval, sovereign debt crises, and uninsured losses (generally from catastrophic events such as earthquakes, floods and wars). Investments in real estate related securities, such as asset-backed or mortgage-backed securities are subject to prepayment and extension risks.<\/p> \nPrivate Market Investments Risks:<\/b><\/p> \nAn investment in the Fund is suitable only for investors who can bear the risks associated with private market investments (such as private credit and private equity) with potential limited liquidity. Shares will not be listed on a public exchange, and no secondary market is expected to develop. Private equity investments involve a high degree of risk and is suitable only for investors who can afford to risk the loss of all or substantially all of such investment. Private equity investments may hold illiquid investments and its performance may be volatile.<\/p> \nFranklin Distributors, LLC. Member FINRA<\/a>, <\/span>SIPC<\/a>. All entities mentioned are Franklin Templeton affiliates companies Investment Products: NOT FDIC INSURED | NO BANK GUARANTEE | MAY LOSE VALUE.<\/p> \n\u00a92026 Franklin Templeton. All rights reserved.<\/i><\/p>