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BLOOMFIELD, NJ-Juniper Communities a privately held New Jersey-based company that owns and operates assisted living and skilled nursing homes nationally, has formed a financial partnership with Care Investment Trust, a publicly traded healthcare investment trust (REIT) that invests in healthcare-related real estate.
This means an influx of $106.5 million in capital for Juniper to continue its expansion in the senior living marketplace. Juniper is currently in the process of acquiring several additional properties to add to its portfolio.
“The time is right for a capital event that will further the company’s growth,” states Lynne S. Katzmann, CEO and Founder of Juniper Communities. “Entering into this financial partnership with Care assists us in keeping pace with the future of our industry.”
Katzmann says that the future impact of baby boomers’ health care needs will apply more pressure on the industry to grow and to deliver services in new and improved ways, both environmentally and through new types of programs. “Care is an ideal partner for Juniper as we have similar values regarding the quality of care needed for residents,” Katzmann says.
Salvatore "Torey" V. Riso, Jr., President and Chief Executive Officer of Care, comments: "Juniper's passion and dedication to quality care has earned them an unparalleled reputation in senior housing. We are extremely pleased that through this transaction Care is commencing what it believes will be a long term and rewarding relationship with one of the most dedicated and thoughtful operators/managers in the senior housing community."
Care invests in healthcare-related real estate, including assisted living facilities, independent living facilities, memory care facilities, skilled nursing facilities, and other healthcare facilities. Through its investment in Juniper Communities, Care continues to execute on its growth strategy by partnering with high-quality operators of senior housing facilities.
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