Institutional investors have committed €150 million for La Française Real Estate Managers's first retirement homes fund, Property Investor Europe reported.
The fundraising round takes the total investment capacity of LF Résidences Seniors to €200 million. The fund will mainly target new retirement homes worth €10 million to €40 million each in towns and cities with populations of over 100,000, the French property fund manager said in a release cited by the publication.
The fund launched in October 2016 has bought nine assets, as at March 31, with two more in the pipeline, according to the May 24 report.
