Fundraising - AUGUST 20, 2014

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AEW closes second senior housing fund

by Andrea Waitrovich

AEW Senior Housing Investors II has held a $371 million final close, surpassing its $250 million target, confirms AEW Capital Management.

The fund primarily invests in age-restricted, independent living, assisted living and memory care communities, and it is already more than 40 percent committed. It also invests mainly in stabilized, cash-flowing properties, as well as select repositioning, renovation, recapitalization and development opportunities.

The firm has started to invest the vehicle’s capital. In March, AEW Capital acquired the Balfour Senior Housing Portfolio, which consists of three class A properties, totaling 296 units. The sales price was not disclosed; however, it was reportedly approximately $104 million.

The fund series launched in 2008 with AEW Senior Housing Investors I.

AEW was

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