Locust Point Seniors Housing Debt Fund II surpasses $428m

New Jersey–based Locust Point Capital has raised more than $428.5 million in capital commitments for its Locust Point Seniors Housing Debt Fund II, according to a document filed with the SEC on March 30.

The fund surpassed its original fundraising target of $425 million, with the help of subscriptions from 59 investors.

The fund provides subordinate debt, preferred equity and opportunistic senior mortgage loans to owner-operators in the senior housing and care sector

Locust Point Capital began marketing its second senior housing debt fund in March 2020, approximately two years after Locust Point closed its debut fund, Locust Point Private Credit Fund.

According to Locust Point, the Credit Fund was oversubscribed to its target of $250 million, after collecting $312 million from a mix of U.S. and European investors. The investor base for that fund