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BOSTON — AEW Capital Management, a Boston-based investment management firm, has closed its most recent fund, AEW Senior Housing Investors III LP with commitments totaling $500 million.
The closed investment fund had reached both its target fundraise and its hard cap. This is AEW’s third fund dedicated to the seniors housing sector; the second fund was closed in 2014.
The fund, which invests primarily in age-restricted, independent living, assisted living and memory care communities, is already over 40 percent committed. The capital is used to invest in stabilized, cash-flowing properties, as well as select repositioning, renovation, recapitalization and development opportunities.