IRA CAPITAL PAYS $106 MILLION FOR CALIFORNIA SENIOR HOUSING ASSETS
- S&P 500, Nasdaq slide as weak economic data, dire outlooks stoke recession fears
- 'Snap Drops a Bomb': Snap (SNAP) Stock Crashes Nearly 30% on Forecast Cut, Musk-Twitter Saga to Get a 'Whole Lot More Interesting' Says Analyst
- Bill Ackman Says Fed Must Aggressively Raise Rates Now to Combat Inflation or Economy Will Collapse
- Intuit Shares Gain 3% on Q3 Earnings Beat and Raise
- After-Hours Stock Movers 05/24: Wendy's Gains on Possible Peltz Deal, Nordstrom Up Following Earnings (more...)
Get instant alerts when news breaks on your stocks. Claim your 1-week free trial to StreetInsider Premium here.
IRVINE, Calif., Jan. 26, 2022 /PRNewswire/ -- Southern California private equity firm IRA Capital ("IRA") is pleased to announce the acquisition of two newly-constructed Assisted Living and Memory Care facilities totaling 160 units in the Northern California cities of Dublin (Alameda County) and Novato (Marin County). As one of the most active players in the medical office, life science, and ambulatory surgery space, IRA Capital is growing and diversifying its healthcare real estate portfolio with its latest $106.5 Million acquisition and launch of a new seniors housing strategy. The transaction marks IRA Capital's first acquisition in the sector with a plan to continue strategically acquiring similar well-located assets in high barrier to entry markets along the west coast.
The two class-A facilities are operated by Elegance Senior Living and offer unparalleled amenities, resort-style hospitality, expert care, and numerous holistic health and well-being programs for the residents to live safe and connected lives. Elegance at Dublin is an 80-unit community located within walking distance from a variety of shopping centers and restaurants, several hospitals, and is directly across the street from the Dublin Senior Center. Elegance Hamilton Hill in Novato is an 80-unit community situated in the heart of Hamilton Field's 414-acre master plan community near shopping centers, restaurants, and medical facilities. The property enjoys a serene atmosphere with beautiful bay and mountain views, and is walking distance to Hamilton Community Center and Marin County Museum of Contemporary Art.
IRA Capital has ramped up its investment activity with approximately $750 million of acquisitions over the past 90 days. "The launch of our new seniors housing vertical is consistent with IRA's goal of pursuing best-in-class assets that drive long-term growth for our investors, while providing quality services for the community," said IRA Capital co-founder Jay Gangwal. IRA Capital has allocated approximately $1 Billion to acquire 2000+ senior housing units over the next couple years. As part of its anticipated growth, IRA is building a team around the strategy and recently hired Azhar Jameeli as Vice President of Investments, who brings more than a decade of experience in the sector. Mr. Jameeli has held various leadership roles within the senior housing niche, most recently at Healthpeak REIT, and prior to that at Holiday Retirement and Fortress Investment Group. According to Azhar Jameeli, "despite the various challenges to seniors housing resulting from the pandemic, there lies huge opportunity ahead given the significant demand drivers; I'm excited to join and help grow an entrepreneurial and innovative team that will become a dominant player in the space."
About IRA Capital
IRA Capital is a Southern-California based private equity firm founded in 2010 that invests capital for its own account and on behalf of its co-investment partners, which include pension funds, institutions, and family offices. IRA invests in commercial real estate assets throughout the United States and has a private equity/venture capital platform that invests in operating companies across various sectors. Headquartered in Irvine California, IRA has acquired over seven and a half million square feet of property across 30 states, valued in excess of $3.0 Billion.
For more information, please contact: Danielle de Souza, IRA Capital Corporate Communications [email protected] / 949.612.2742
View original content to download multimedia:https://www.prnewswire.com/news-releases/ira-capital-pays-106-million-for-california-senior-housing-assets-301469209.html
SOURCE IRA Capital
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Wendy's (WEN) Shares Surge as Large Holder Nelson Peltz to Explore Potential Deal
- UK baby milk producer, Kendamil, becomes first new international manufacturer to export formula to the USA amidst crisis
- Electronic Arts (EA) Said Actively Pursuing Sale or Merger, Comcast and Amazon Among Potential Suitors; Stock Now 'Likely Has a Floor' Analyst Says
Create E-mail Alert Related CategoriesPRNewswire, Press Releases
Related EntitiesDefinitive Agreement
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!