IRA Capital, an Irvine, California based private equity firm, has launched the IRA Healthcare Real Estate Fund LP, a $500 million closed-end fund focused on the acquisition of U.S. medical properties and senior housing assets.
The new fund will focus on the acquisition, development, and financing of well-located health care assets in high barrier-to-entry and supply-constrained markets. IRA’s principals will be co-investing alongside existing and new investors, and the offering will be open to domestic and foreign endowments, pension funds, insurance companies, family offices, fund of funds, registered investment advisors, and other qualified high net-worth investors. IRA Capital has credited itself as being “among the most active health care real estate investors in the United States.”
“Our firm’s expertise and exceptional track record in this niche asset class combined with strong secular trends uniquely positions us to deliver strong risk-adjusted returns for the fund” said Amer Kasm, co-founder at IRA Capital.
Jay Gangwal, also an IRA Capital co-founder, added, “We intend to acquire assets across the risk spectrum with a focus on core-plus and value-add opportunities. The diverse strategy will result in a balanced portfolio with a combination of yield and appreciation, while providing downside protection given the needs-based demand. The current capital markets environment is also presenting unique re-positioning opportunities that we expect will create significant value and generate outsized returns.”