Real Estate
Senior Living
Development and acquisition of assisted living, memory care, and independent living communities across the Midwest and Southeast.
The Strategy
Long-term owners of communities that care for people.
Armory develops and acquires senior living communities alongside experienced operators — partners who invest their own equity in every community, not hired managers. As permanent capital owners, we invest through cycles — in the buildings, the programs, and the operator relationships that determine resident experience.
- Independent LivingResidences for active seniors seeking community, services, and convenience.
- Assisted LivingSupportive care communities balancing independence with daily assistance.
- Memory CarePurpose-built, secure environments for residents living with dementia.
Communities
Our communities.
Navion of Cotswold
An assisted living and memory care community in Charlotte’s Cotswold neighborhood, acquired in 2026.
Holliday Farms Senior Living
A senior living community within the Holliday Farms development, offering a full continuum from independent living through memory care.
Lyric Senior Living
A ground-up senior living development in the Nashville metro, expected to open in spring 2028.
Our Primary Customer
We back operators.
Just as our operating company strategy centers on the CEO, our senior living strategy centers on the operator. We maintain a small number of deep operator relationships — chosen for regional focus, employee retention, and the ability to staff communities others cannot — and we structure economics so our operators share in the value they create. Autonomy with accountability — the same philosophy, applied to real estate.
- Few, deep relationshipsWe scale with a small number of proven operators — quality over quantity.
- Aligned economicsOur operating partners invest their own equity alongside ours. Skin in the game, not management fees alone.
- Capital for the long termPermanent capital means we invest in communities through lease-up and beyond.
- AccountabilityClear performance expectations, active asset management, and aligned incentives.
We acquire existing AL & MC communities in all markets and develop IL, AL & MC in Class A markets — closing with permanent family capital.