The City of Phoenix Employees’ Retirement System has committed a total of $50 million to two value-add real estate funds in the senior housing and healthcare sectors.
The pension fund has slated $25 million each for the Focus Senior Housing Fund II, managed by Focus Healthcare Partners, and Hammes Partners IV, managed by Hammes Partners.
Chicago-based Focus Healthcare Partners invests in senior housing and healthcare real estate assets on behalf of institutional and private investors. An open date or fundraising target for Focus Senior Housing Fund II could not be determined at the time of publication; however, the fund’s predecessor, Focus Senior Housing Fund I, targeted senior apartments, independent living, assisted living and memory care properties and investments across the risk spectrum, encompassing core, value-add and distressed opportunities.
Fund I expects to invest around $900 million throughout the coming years, according to the firm’s website.
