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BIRMINGHAM, Ala. — Harbert Management Corp. (HMC), a Birmingham-based investment company, has closed Harbert Seniors Housing Fund II with total equity commitments of $510 million.
HMC plans to invest the money into seniors housing throughout the United States. Investors are largely institutional and private, and include both domestic and international sources.
The fund has been used toward eight transactions already representing nine seniors housing communities, including three joint-venture development opportunities. HMC is seeking diversity in geography, operators and acuity level of the residents.