Fengate adds six seniors housing facilities to its U.S. healthcare and seniors housing portfolio
Fengate Asset Management (Fengate) is pleased to announce the financial close of six seniors housing facilities as part of a new joint venture with leading United States healthcare and seniors housing partners, Boldt and New Perspective.
The collection of facilities – the New Perspective Portfolio – brings more than 850 essential care beds to senior living communities across Wisconsin, North Dakota and Missouri, and provides best-in-class independent living, assisted living and memory care services to seniors in the Midwest.
Fengate is managing this investment on behalf of the Fengate Infrastructure Fund III and its affiliated entities, including an investment by the LiUNA Pension Fund of Central and Eastern Canada.
“The New Perspective Portfolio is a strong start for our joint venture, and we look forward to continuing the momentum with our partners to make high-quality seniors housing available to more communities across the country,” said Mac Bell, Managing Director, Infrastructure Investments at Fengate.
“New Perspective and Boldt have a long-standing partnership, and together, we’ve already completed 20 acquisitions as Purpose First Partners,” said New Perspective co-CEO, Chris Hyatt.
“Bringing Fengate into the mix further strengthens our capabilities to execute on our growth plans,” he said.
The investment is the first by the newly established joint venture between Fengate, a leading North American infrastructure investor and developer, Boldt, a real estate development and investment division of The Boldt Group focused on healthcare and senior living, and New Perspective, an acquiror, developer, owner and operator of senior living communities, and the property manager for the portfolio.
