NEW YORK CITY — Global alternative investment firm Investcorp has acquired a three-property portfolio for $200 million. Two of the properties are seniors housing assets.
The seniors housing properties include a 148-unit community located in Orange County, California, and a 116-unit community located on Long Island in New York. The portfolio also included a multifamily community in New Jersey.
Investcorp also recently acquired a 140-unit senior living community in Boston. According to the company, these acquisitions “underscore Investcorp’s conviction for the sector.”
“Our decision to re-enter the senior housing sector reflects the strong opportunity we see in the asset class, and we believe it’s poised for sustained performance due to the nation’s rapidly growing senior population,” said Michael O’Brien, co-head of U.S. real estate at Investcorp, in a statement.