Bahrain’s investment firm Arcapita has announced acquiring a privately-held portfolio of residential communities in Colorado, United States for 85 million dollars or what is equivalent to 32 million Bahraini dinars. The acquisition is a joint venture between Arcapita and MorningStar Senior Living.
The firm aims by this acquisition to start a series of purchases in senior living facilities in United States as it looks forward towards purchasing another portfolio soon.
The communities were built in 2013 and 2014. They offer a wide range of facilities including large courtyards, fireside living rooms, massage therapy rooms, fitness and spa facilities, and many other amenities in addition to 196 units and 243 licensed beds.
Arcapita’s chief executive, Atif Abdulmalik, commented on the acquisition saying that the firm’s extensive experience in investing enabled it in securing this deal. He added that Arcapita has successfully managed and exited five successful senior transactions before which have returned high revenues to the investors.
Abdulmalik expressed his happiness to cooperate with MorningStar saying that it is a high-quality developer and operator in this sector of properties.
It’s worth mentioning that Arcapita has previously acquired senior living communities worth 1.5 billion dollars in the United States of America.