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Tue 22 Nov 2016 02:07 PM

Bahrain's Arcapita buys US senior citizen housing portfolio for $110m

Investment firm makes another foray into United States after acquiring similar schemes in Colorado earlier this year

Bahrain's Arcapita buys US senior citizen housing portfolio for $110m

Investment management firm Arcapita said on Tuesday it had acquired a privately-held portfolio of three housing schemes for senior citizens in the United States for around $110 million.

The "senior living communities", located in the metropolitan areas surrounding Washington DC and Atlanta, follow the Bahrain-based company's acquisition of three similar schemes in Colorado for a total of $87 million earlier this year.

The properties will be managed by an affiliate of Arbor Company, a community management company, it added.

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