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Clearwater Living, Berkshire Realty Partner on $1B Senior Living Fund

The partnership will seek to create a $1 billion portfolio of senior living assets

Clearwater Living and Berkshire Realty Ventures, an investment vehicle co-managed by an affiliate of Berkshire Residential Investments and Broadview Real Estate Partners, are partnering for a second time on a capital fund aimed at developing and acquiring senior living assets. The partnership’s initial equity commitment is expected to generate over $1 billion in gross asset value.

Berkshire and Clearwater partnered together in 2016 when Berkshire made an entity-level investment to capitalize Clearwater’s development projects and acquisitions.  Backed by investors including Harrison Street Partners, Goldman Sachs and Virtus, the initial venture has completed five communities with another currently under construction. 

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Erika Morphy

Erika Morphy

Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.

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