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ALEXANDRIA, Va. — Bethesda-based Chiron Real Estate Inc. has agreed to acquire two adjacent luxury senior living communities in Potomac Yard for $249 million in what will be the publicly traded real estate investment trust's first move into senior housing, the company announced Wednesday.
Wednesday's announcement is also the first major acquisition Chiron has unveiled under its new identity. The company, formerly known as Global Medical REIT, completed a corporate rebrand on Feb. 23 after a roughly six-month strategic review under CEO Mark Decker, Jr. It traded on the New York Stock Exchange under the ticker GMRE for nearly 15 years before adopting XRN.
Under purchase agreements signed May 1, Chiron will buy The Landing Alexandria and The Riviera at Alexandria from affiliates of Dallas-based Silverstone Senior Living. The closings are expected on or about June 1, subject to customary conditions, according to a press release from the company.
The two buildings sit across Main Line Boulevard from one another in the Potomac Yard/National Landing area. Chiron said it intends to run them as a unified campus, with an affiliate of senior living services firm Greystone managing day-to-day operations and Silverstone retaining an active oversight role.
The Landing, at 2620 Main Line Blvd., opened in April 2022. The 216,000-square-foot, 163-home building offers 40 independent living homes, 89 assisted living homes and 34 memory care homes. It was 90% occupied as of April 30, the company said.
The Riviera, at 2700 Main Line Blvd., opened in March 2026 and held a ribbon cutting April 22 attended by Silverstone Vice Chairman and CEO Bobby Zeiller, Councilman John Taylor Chapman and Chamber ALX President and CEO Joe Haggerty. The 183,000-square-foot, 129-home building is an independent living community for adults age 62 and older, with 66 one-bedroom homes, 63 two-bedroom homes and roughly 24,000 square feet of amenity space. It was about 20% leased as of April 30, according to the announcement. Lease rates start at $7,595 a month for a one-bedroom and $11,995 for a two-bedroom, the property has said.
Chiron CEO Mark Decker, Jr. said the deal advances the company's strategy of investing in high-quality communities in supply-constrained markets, citing what he described as a favorable long-term demand outlook and limited new supply in the sector. The company said it expects the Alexandria campus to deliver a double-digit unlevered internal rate of return.
The Alexandria deal is part of a broader $425 million package Chiron announced Wednesday that also includes The Pinnacle North Bethesda, a 175-home luxury senior housing community in Montgomery County, Maryland, scheduled to open in October. That community is being acquired for about $176 million, with closing expected in October.
Chiron said additional information on the investments is included in its first-quarter 2026 investor presentation, posted to the investor relations section of its website.
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