Focus Healthcare Partners Closes $370M Seniors Housing Investment Fund

by Jeff Shaw

CHICAGO — Focus Healthcare Partners LLC has completed the final closing of Focus Senior Housing Fund II LP, a closed-end, commingled, discretionary real estate fund targeting private-pay seniors housing. The fund raised approximately $370 million in capital commitments.  

The fund is 20 percent larger than its predecessor vehicle despite a challenging fundraising period for commercial real estate, thanks to strong support from new and existing limited partners, according to Chicago-based Focus. Investors in the fund include university endowments, state and corporate pension funds, insurance companies, wealth managers, family offices and other institutional investors.

“Massive growth in the 80-plus population segment and near-term limited supply growth coupled with the current capital markets dislocation will provide ample opportunities for our investors,” says Mike Feinstein, a managing director with Focus.

FHP targets investments in the active adult, independent living, assisted living and memory care sectors and pursues transactions across the risk spectrum (core-plus, value-add and distressed opportunities). Although primarily focused on acquisitions, Focus will also consider development, distressed debt and preferred equity opportunities.

Incubation Capital Partners LLC served as the exclusive advisor for the fundraise. 

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