Real estate investment manager Inland Private Capital Corporation announced the completion of a more than $46 million capital raise for the private investment offering of Algonquin Senior Living DST, an Inland Private Capital-sponsored Delaware statutory trust. The offering has been fully subscribed by investors and is now closed.
The DST owns a Class A, private pay, 186-unit senior living community in Algonquin, Ill., comprised of independent living, assisted living, and memory care units.
“While several factors are driving senior living demand growth, the aging U.S. population is increasing the need for communities and services,” commented Nati Kiferbaum, senior vice president and head of investment product strategy for Inland Private Capital. “The U.S. Census Bureau has predicted that by 2030, all baby boomers will be older than age 65 – meaning that one in five Americans will be of retirement age. This aging U.S. population, regardless of health status, is expected to look for senior housing options that provide a range of services and amenities.”
To date, Inland Private Capital’s senior living portfolio consists of 1,273 units and a total of nine communities across Arizona, Illinois, Kansas, Minnesota, and Missouri.
“We anticipate organic demand driven by the aging baby boomer cohort with an increasing life expectancy will continue to propel performance for years to come,” added Kiferbaum. “Additionally, operating fundamentals continue to thrive due to outsized demand positioned alongside muted supply, leading to increased occupancy rates, outsize rent growth, and operating margin recovery. We are thrilled to have provided our investor base access to another asset type that complements the diverse menu of alternatives Inland Private Capital has consistently brought to market.”
Inland Private Capital specializes in offering multiple-owner, tax-focused, private placement investments including qualified opportunity zone investments throughout the United States. Since inception, it has monetized more than $3.9 billion in full-cycle transactions on behalf of its investors. Currently, Inland Private Capital manages a diverse portfolio of more than $12.2 billion across several asset classes spanning 43 states.
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