U.S. investor enters Indian senior housing market
Columbia Pacific Management, a Seattle-based international healthcare provider, plans to enter the Indian senior housing market with the acquisition of Serene Senior Care, which currently operates 735 residential units in four senior housing communities in South India and plans to have 1,700 units under management by fall 2017. The firms plan to embark on a significant expansion of their Indian senior housing portfolio over the next five years.
Under the Serene brand, Columbia Pacific will operate and provide services to Indian senior care communities in which residents purchase their own retirement villas, apartments or houses. The acquisition of Serene Senior Care is a joint investment of Columbia Pacific Management and an opportunistic strategy fund managed by Columbia Pacific Advisors, an affiliated Seattle-based alternative investment firm.
Columbia Pacific Management is already one of the largest and fastest-growing healthcare providers in Asia.
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