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Senior housing fund makes investments

by Andrea Waitrovich

Blue Moon Capital Partners has completed two acquisitions for Blue Moon Senior Housing I.

The two purchases mark the first opportunistic investments made by Blue Moon from the $175 million fund, which Hawkeye Partners invested in earlier this year.

BMSH I closed on a $55.9 million development joint venture with affiliates of Gerald H. Phipps, a Rocky Mountain regional general contractor, and Ascent Living Communities, a Denver-based senior living developer and operating company. The investment will provide for the ground-up development of a 156-unit independent-living, assisted-living and memory-care campus in Lakewood, Colo.

The fund also closed on a $52.5 million development joint venture with affiliates of The Damone Group for the ground-up development of a 180-unit independent-living, assisted-living and memory-care campus in Northville, Mich.

BMSH I invests in the development of new, purpose-built, innovative senior housing communities i

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