IRA Capital continues expansion of its Senior Housing Portfolio with addition of 140-unit community in Orange County, CA
–News Direct–
Irvine, CA, December 21st, 2023 – (500NewsWire) — IRA Capital ("IRA"), a leading private equity firm based in California, is pleased to announce its recent acquisition of San Clemente Villas by the Sea, a 140-unit assisted living and memory care community located in the coastal community of San Clemente, California. This strategic acquisition emphasizes IRA Capital's commitment to enhancing the quality of senior housing and addressing the specific needs of the elderly community in Southern California.
IRA and its institutional joint-venture partner completed the $41 million all-cash acquisition with plans to invest additional capital to elevate the senior living experience at the community. Through a meticulous process encompassing both exterior and interior upgrades, residents will not only enjoy breathtaking ocean views but will also be part of a fully renovated, class-A community. This strategic initiative is more than just an enhancement; it's a commitment by IRA Capital to establish a unique value proposition, meeting the ever-growing demands of the local senior population.
IRA Capital has engaged MBK Senior Living, a renowned institutional manager specializing in senior housing, to oversee the property's operations and capital improvement plan. "We are excited about the acquisition of San Clemente Villas by the Sea into our growing senior housing portfolio," said Jay Gangwal, Managing Partner of IRA Capital. "Our relationship with MBK Senior Living ensures that the residents of this remarkable community will receive world-class care and services, aligned with our vision of creating a premier senior living community."
This acquisition demonstrates IRA's continued conviction to the senior housing sector and showcases our ability to source and execute transactions unencumbered with debt. We aim to identify distinctive value creation opportunities for our investors. said Azhar Jameeli, Managing Director at IRA Capital
About IRA Capital
IRA Capital is a Southern-California based private equity firm founded in 2010 by partners Amer Kasm, Samir Patel, Jay Gangwal, Amer Malas, and Mohannad Malas. IRA invests capital for its own account and on behalf of its co-investment partners, which include pension funds, institutions, and family offices. Headquartered in Irvine California, IRA has acquired over seven million square feet of property in 30 states, with a total capitalization greater than $3.2 Billion.
Contact Details
Danielle Ball, IRA Capital Corporate Communications
+1 949-258-7411
Company Website
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500NewsWire
COMTEX_445299754/2655/2023-12-21T15:12:34
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