Investors - NOVEMBER 14, 2012

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AEW holds $113 million first close for second senior housing fund

by Andrea Waitrovich

Boston-based AEW Capital Management has held a $113 million first close for AEW Senior Housing Investors II, its U.S. value-added fund focused on the senior housing sector, according to a filing with the Securities and Exchange Commission. The closed-end fund was launched in January 2012 and has a fundraising goal of $300 million. A final closing date was not disclosed. The AEW fund focuses on independent- and assisted-living properties.

AEW launched its value-added senior housing series in 2008 with its AEW Senior Housing Investors, which closed in September 2009 with $190 million in equity commitments. Recent acquisitions by the fund include a 107-unit assisted living and memory-care community located in Gulf Breeze, Fla., which was purchased for $24 million; and a 95,607-square-foot property at Little Raven, located in Denver, which was acquired for $9.4 million.

Founded in 1981, AEW and its affiliates managed more than $33

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