Locust Point Capital announced today the closing of Locust Point Seniors Housing Debt Fund II, L.P. at $428 million.
RED BANK, NJ, UNITED STATES, April 5, 2021 /EINPresswire.com/ — Locust Point Capital announced today the closing of Locust Point Seniors Housing Debt Fund II, L.P. (“Fund II”), the firm’s second fund focused on its direct lending strategy to the seniors housing and care sector. The firm launched their $312M debut fund in 2016 (“Fund I”). Fund II closed above its target at $428 million after receiving strong interest from a diverse group of investors, including pension funds, endowments, foundations, insurance companies and wealth advisors. Approximately three quarters of the commitments came from United States based investors, with the remaining coming from European investors.
Fund II’s strategy is a continuation of Fund I’s strategy, which is providing subordinate debt, preferred equity, and opportunistic senior mortgage loans to owner-operators of seniors housing and care facilities in the United States. The owner-operators use Fund II’s capital to acquire, build, expand or renovate independent living, assisted living, memory care, and skilled nursing facilities throughout the United States. This strategy provides owner-operators with a short-term, non-dilutive, and flexible financing solution. Since inception in 2016, the total value of financed transactions in which Locust Point has participated exceeds $2.25 billion.
“The seniors housing and care community has always played a critical role in the care of the country’s most vulnerable populations. Given recent events and the demographic challenges we face in the coming years, these contributions will become even more essential. At Locust Point Capital we are proud of our continuing, longstanding, and exclusive focus on this sector. We are thrilled to continue executing on our investment strategy to bring capital and resources to the segments of the market that need it most in this growing industry.” said Eric Smith, CEO and Managing Partner. “Our pace of new investments reflects the tremendous opportunity we are seeing today in the seniors housing and care sector.”
About Locust Point Capital
Locust Point Capital is an alternative asset manager with offices in Red Bank, New Jersey, Washington D.C., and Miami, Florida. Led by a management team with deep experience in investing in the seniors housing and care sector, the firm provides tailored capital solutions to owner-operators that need short-term, non-dilutive capital in order to execute their business plans. Locust Point Capital offers subordinate debt, preferred equity, and opportunistic senior mortgage loans, for acquisitions, refinancing, recapitalizations, new construction, capital investment, or working capital. Additional information about Locust Point Capital is available at www.locustpointcapital.com.
Locust Point Capital, Inc