Prudential Real Estate Investors has raised $629 million to be used to buy senior housing.
Prudential Real Estate Investors will spend $110 million to acquire three assisted living communities, the company announced, the first investment made by this new fund managed by Prudential Financial.
Two of the facilities are located in Tennessee and one is in Connecticut, adding up to 341,000 square feet combined.
They are the 130-unit Hendersonville, Tennessee-based Hearth at Hendersonville, the 126-unit Hearth at Franklin in Franklin, Tennessee and the 135-unit Hearth at Glastonbury in Glastonbury, Connecticut.
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Prudential Real Estate Investors has raised $629 million for its fund to be used for investment opportunities in senior housing, the company said.
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