NEW YORK CITY—AIG Global Real Estate said Monday afternoon thatit had entered into a joint venture with First & Main tointegrate the ownership, development and operational components fora new brand of independent living, assisted living and memory carecommunities. The initial projects call for builds across across theMidwest with eventual expansion to the greater US market.
The JV is contracting with the Wyoming, MI-based Granger Groupof Cos. projects on a turnkey basis. AIG and First & Mainexpect to co-invest on new acquisition and developmentopportunities throughout the US over the next four years.
First up are five projects for which the closing on financing isexpected to occur by next month. Construction is expected to becomplete in the fourth quarter of 2016.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
*May exclude premium content
Already have an account?
Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.