A real estate investment trust (REIT) that invests in U.S. government backed, adjustable-rate residential mortgage securities completed a $135 million acquisition of seven senior housing communities in five states, totaling 1,477 units, from an apartment investment and management corporation. Our firm represented the REIT in the acquisition, along with negotiating a synthetic lease with a senior living communities company with nearly 1,000 communities in 46 states.