CHICAGO–(BUSINESS WIRE)–Greene Park Capital, a Chicago-based healthcare real estate investment firm, said that in partnership with a major institutional investor, it has invested in a Boston MSA active adult building with approximately 225 units.
“This class A building is Greene Park’s first investment in the attractive and growing multi-family, age-restricted space. We expect to see increased demand from residents who are 55-plus and desire an active, independent lifestyle without the burden of home ownership,” Greene Park Capital Founder and Managing Partner Carrie Hiebeler said. “Supported by the trends of an aging population that is also healthier, we expect this sector to play an important role in our overall seniors housing investment strategy.”
The active adult sector provides lifestyle-focused living for residents aged 55-plus who are a younger, healthier segment of the senior population and do not require the medical care services or meal preparation provided in other seniors housing asset classes. The active adult community offers residents socialization and shared activities among like-minded individuals, safety, security, and maintenance-free living.
Active adult communities are also appealing for their wide range of amenities, including common areas such as game rooms and pubs, libraries and fitness centers, and outdoor attractions such as swimming pools, bocce courts, and pickleball courts. Apartments in Class A residences can include fireplaces and a variety of floor plans and balconies.
“This property fits well within our overall seniors housing investment strategy where we can achieve attractive returns. Our pipeline for this sector is currently about $250 million and we expect it to grow as we seek out institutional quality active adult investment opportunities located in major metropolitan and suburban areas,” said Jordyn Berger, Partner and Head of Greene Park Capital’s Seniors Housing Platform.
About Greene Park Capital
Greene Park Capital, is a global healthcare real estate investment firm focused on the future of age-restricted multi-family communities, seniors housing, medical office buildings and other healthcare-focused assets. Our business model is to align ourselves with capital through Joint Ventures. We act as the General Partner or co-GP, provide the expertise in seniors housing and healthcare, and invest alongside the capital to realize similar returns. By making strategic, specialized real estate investments and utilizing long-standing industry relationships and sector knowledge, Greene Park is well-positioned to drive value for investors through investments and asset management. Additional information can be found at https://www.greeneparkcapital.com/
