PARSIPPANY, NJ-Prudential Real Estate Investorshas closed on its fourth senior housing fund, the largest ever forthe firm, bringing in a total of $568 million in discretionarycapital from institutional investors.
“There is a growing need for senior housing in the United Statesand the demand for high-quality properties that offer a variety ofservices and accommodations is on the rise,” says NoahLevy, managing director with PREI and the portfoliomanager for the fund. “We expect this demand will continue toincrease and we look forward to providing an attractive return forour investors over the long term,” he added.
The firm opened its first fund, Senior Housing Partners I, in1998 and has been managing funds on behalf of investors ever since,following up with Senior Housing Partners II, III, and now IV.
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