Fengate announces financial close on two U.S. healthcare facilities
Fengate Asset Management (Fengate) is pleased to announce financial close on the acquisition of two operating inpatient rehabilitation facilities (IRFs) in Georgetown, Delaware and Tavares, Florida.
The 34-bed Georgetown IRF started operations in 2022 and the 42-bed Tavares facility in 2023. The acquisition brings the firm’s social infrastructure portfolio to 45 assets and total beds to more than 4,900.
“The acquisition of these facilities is important to our social infrastructure strategy, which includes a commitment to enhancing healthcare infrastructure in the U.S. as well as delivering long-term, predictable and contracted returns for our investors,” said Andrew Cogan, Managing Director and Portfolio Manager of Fengate Infrastructure Yield Fund.
“We are excited to expand our portfolio with these high-quality assets and look forward to the positive impact they will have on the communities they serve.”
IRFs provide intensive rehabilitation services to patients following acute care in major hospitals. These facilities play an important role in the healthcare continuum, offering cost-effective treatment options and enabling larger hospitals to focus on their core services.
Fengate is managing this investment on behalf of the Fengate Infrastructure Yield Fund and its affiliated entities, including an investment by the LiUNA Pension Fund of Central and Eastern Canada.
