Cindat Capital Management has plans to spend $2 billion this year on elderly homes in the United States, according to media outlets.
The U.S. population over 65 is projected to increase 18 percent in the five years through 2020 to reach 56 million, according to the U.S. Census Bureau.
Cindat teamed with Beijing-based Union Life Insurance Co. for a $930 million deal to buy a 75 percent stake in a portfolio of U.S. elderly homes owned by Welltower Inc. The assets include 11 senior housing properties leased to Brookdale Senior Living Inc. and 28 post-acute care and nursing homes leased to Genesis Healthcare Inc.
And it formed a joint venture with U.S. healthcare REIT Omega Healthcare Investors to buy up the remaining interest in a portfolio of 67 U.K. senior housing properties. The sales price was $232 million for the 49 percent interest in the portfolio from NYSE-listed healthcare REIT Healthpeak Properties.
Located in London, Leeds and Manchester, as well
