Bridge Investment raises fundraising target on senior housing fund
Bridge Investment Group Partners has increased its fundraising goal on ROC Seniors Housing & Medical Properties Fund from $350 million to $450 million, according to a filing with the SEC. Dean Allara, COO and managing director of capital markets with Bridge Investment, says the change was due to the strong feedback and demand the fund has received already coupled with the firm’s confidence in the investment team’s past work.
The firm plans to hold a first close this month in the $30 million to $50 million range, and anticipates closings on its first assets this month as well. The ROC fund is expected to have a net IRR of around 16 percent for investors. It will invest approximately 80 percent in senior housing properties with assisted living and memory care facilities and 20