Focus Healthcare Partners LLC has raised $312 million for its debut fund. Focus Senior Housing Fund I LP will invest in senior housing assets in the U.S. The fund’s limited partners include public pension plan investors, university endowment funds and public insurance companies.
CHICAGO, July 17, 2017 /PRNewswire/ — Focus Healthcare Partners LLC (“Focus”), a Chicago-based private real estate investment firm targeting the senior housing sector, announced today the closing of its first discretionary investment fund, Focus Senior Housing Fund I LP. This $312 million private equity fund will target senior housing properties providing private pay independent living, assisted living and memory care services to senior citizens across the continental United States. Utilizing moderate levels of institutional debt, the fund expects to invest approximately $900 million into senior housing assets over the next several years.
Focus was formed in 2009 by its founding Principals, Paul A. Froning and Curt P. Schaller. Since its formation, Focus successfully acquired senior housing assets nationwide in partnership with several institutional investors. “Senior Housing represents one of the most compelling sectors in the United States,” Mr. Schaller noted, “with its clear and compelling demographic story and high levels of fragmentation, we see significant opportunities to acquire properties at attractive risk adjusted returns.”
“We are fortunate to have developed relationships with investors who share our vision for investing in Senior Housing,” Mr. Froning noted. “We have built our success by focusing first and foremost on how we can improve the resident experience,” Mr. Froning continued, “with aggressive asset management and physical improvement to the properties we acquire, we aim to maximize quality of life for seniors and increase the value our properties afford them.”
While the formation of this investment fund represents its first comingled discretionary investment vehicle, the firm has previously created investment partnerships with highly respected institutional investors throughout the country. Through these earlier vehicles, Focus has invested more than $400 million to date into senior housing assets in the U.S. The expansion of its capital base in its latest fund was accomplished via the strong support of public pension plan investors, university endowment funds, public insurance companies, and other well respected institutional limited partners.