New York – Fortress Investment Group today announced that funds managed by its affiliates (“Fortress”) have acquired The Astor at Delray Beach, an assisted living and memory care community in Delray Beach, Florida. The 118-unit community, formerly known as Symphony at Delray Beach, will be managed by AgeWell Senior Living.
Built in 2018, The Astor at Delray Beach is located on a four-acre site in Palm Beach County, near downtown Delray Beach and the Atlantic coastline. The community offers private assisted living and memory care residences, restaurant-style dining, dedicated social and activity spaces, and a landscaped central courtyard.
“The Astor is a compelling addition to our Florida senior housing portfolio and fits squarely within our strategy of investing in high-quality, luxury senior housing communities in attractive markets,” said Peter Stone, Head of Healthcare Real Estate at Fortress. “The community combines a core location on Atlantic Avenue, modern construction and high-quality amenities, and fantastic long-term demand fundamentals. We see a meaningful opportunity to build on those strengths, and we look forward to working with AgeWell to make thoughtful investments in the property, its operations and the resident experience.”
AgeWell has an established presence in Florida and operating experience across South Florida, including Palm Beach County. Its local market knowledge, experienced leadership team and resident-focused operating platform will support the transition and Fortress’s plans for the community.
The acquisition reflects Fortress’s continued investment in senior housing at a time when demographic-driven demand is strengthening and new supply remains constrained. National senior housing occupancy reached 90.4% in the third quarter of 2026, marking the 21st consecutive quarter of occupancy gains, while year-over-year inventory growth remained near record lows at 0.4%, according to NIC. Delray Beach’s attractiveness is further supported by Green Street, which scores the area A++ in its ranking of senior housing markets (1).
“Senior housing benefits from compelling long-term demand, but successful investing in the sector requires local knowledge, experienced operators and disciplined execution at the property level,” said Eli Edwards, Head of US Real Estate Equity at Fortress. “The Astor brings those elements together in a market we know well and represents another opportunity to invest in our senior housing thesis with a high-quality asset with growth potential.”
Fortress has a long history of investing across the senior housing sector and has continued to expand its portfolio in recent years. The firm’s approach combines real estate investment and asset management expertise with experienced local operations to drive performance and support high-quality resident experiences.
(1) Green Street’s Senior Housing Market Snapshot - Palm Beach. The Delray Beach submarket is identified as an A++ market within the report.
About Fortress Investment Group
Fortress Investment Group LLC is a leading, highly diversified global investment manager serving institutional clients and private investors worldwide. Founded in 1998, Fortress managed approximately $55 billion in assets as of June 30, 2026, across credit and real estate, private equity and permanent capital investment strategies. AUM refers to assets Fortress manages, including capital that Fortress has the right to call from investors, or investors are otherwise required to contribute, pursuant to their capital commitments to various funds or managed accounts. For more information, please visit www.fortress.com.
