Chiron Real Estate acquires SHOP assets for $249M, forms IRF JV for ~$200M, pending Pinnacle acquisition

Chiron Real Estate Inc.

Acquired The Riviera and The Landing SHOP communities in June 2026 for $249M total; Riviera 23% occupied, Landing 93% occupied.
Sold seven Inpatient Rehab Facility (IRF) assets into a joint venture, generating ~$200M in proceeds for reinvestment.
Pending acquisition of The Pinnacle for $176M, expected to close 2H 2026; pre-leasing at 36% (64% for IL homes).
Q1 2026 Cash NOI of $28.8M, up from $27.5M in Q1 2025; net income decreased to $1.7M from $3.7M.
Implied portfolio cap rate of 8.7% as of March 31, 2026; adjusted for IRF sale to 8.9%.

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