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NEWPORT BEACH, CA-Vintage Senior Advisors LLC has struck an$83-million deal with the California State Teachers' RetirementSystem to finance the acquisition,development and management ofsenior housing throughout the West. The new joint venture betweenCalStrs and the Newport Beach-based company will be funded with $75million in equity from CalStrs and $8.33 million from VintageSenior Advisors, which is a an affiliate of Vintage Senior HousingLLC.
Vintage is a developer and operator of senior housing andassisted living communities throughout California. The founder andmanaging director of Vintage Senior Advisors, Eric Davidson, saysthat the joint venture marks the first time the giant teachers'retirement fund has created a partnership to focus solely onseniorhousing.
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