Prudential Real Estate Investors, a part of Prudential Financial Inc (PRU), on Wednesday said it has acquired three assisted living and memory care communities in Tennessee and Connecticut on behalf of Senior Housing Partners (SHP) V for $110 million. The acquisition is the first investment for the newly launched fund.
Earlier this month, Prudential Real Estate Investors said it had raised $629 million in capital commitments for SHP V, the fifth in a series of dedicated, closed-end funds designed to capitalize on investment opportunities in the growing senior housing industry.
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