NEW YORK CITY—AIG Global Real Estate said Monday afternoon that it had entered into a joint venture with First & Main to integrate the ownership, development and operational components for a new brand of independent living, assisted living and memory care communities. The initial projects call for builds across across the Midwest with eventual expansion to the greater US market.

The JV is contracting with the Wyoming, MI-based Granger Group of Cos. projects on a turnkey basis. AIG and First & Main expect to co-invest on new acquisition and development opportunities throughout the US over the next four years.

First up are five projects for which the closing on financing is expected to occur by next month. Construction is expected to be complete in the fourth quarter of 2016.

Three projects are located in surrounding suburbs of Detroit: Auburn Hills, Bloomfield Township and Commerce Township, MI. The remaining two projects are located outside the Greater Columbus market in New Albany and Orange Township. Granger opened a First & Main community at its 180acre Metro Health Village development in Wyoming, MI this past August.

Gary Granger, founder and CEO of Granger Group, is leading the First & Main Sponsor entity. In January of this year, Granger partnered with senior living operator Jeramy Ragsdale for the management of the First & Main platform in an effort to build an integrated brand. “First & Main will be a valued partner and a key component of our senior housing growth strategy for years to come,” says Derrick McSwain, managing director at AIG Global Real Estate Investment Corp.