Bridge Investment holds first close for senior housing fund
Bridge Investment Group Partners, in conjunction with its affiliate ROC Seniors Housing Fund Manager (Seniors IM), has held a $41 million final close for its senior housing and medical properties fund.
ROC Seniors Housing & Medical Properties Fund launched in November 2013 with a $450 million fundraising goal, which was a recent increase from $350 million due the high demand for senior housing product from aging baby boomers.
It will invest approximately 80 percent in senior housing properties with assisted living and memory care facilities and 20 percent in medical properties on an opportunistic basis. And the fund is looking at assets that are anywhere from 60 percent to 80 percent occupied in a market that is nationally occupied at 88 pe