New

Stepstone, Blue Moon Complete $250m Refinancing Of Seniors Housing Portfolio

NEW YORK CITY — StepStone Real Estate, the real estate arm of New York City-based investment firm StepStone Group (Nasdaq: STEP), and Blue Moon Capital Partners have completed a $250 million refinancing of a portfolio of seniors housing communities originally developed or redeveloped by Blue Moon.

The portfolio includes five stabilized properties.

The refinancing was completed through a continuation vehicle, a new investment structure that allowed investors in Blue Moon’s original fund to roll their investment into the new vehicle or exit and receive liquidity. StepStone is the majority equity partner in the new fund, with assets transferring to a joint ownership structure.

“We have been focused on building our senior housing exposure with strong owner-operators like Blue Moon across the U.S. and Europe,” says John Waters, partner and head of investments of Stepstone Real Estate. “We’re excited to partner with Blue Moon on owning, improving and growing their senior housing portfolio.”

StepStone and Blue Moon also plan to use the vehicle to acquire additional seniors housing communities.

The post StepStone, Blue Moon Complete $250M Refinancing of Seniors Housing Portfolio appeared first on Seniors Housing Business.

Back to Listing

credit:

Stepstone, Blue Moon Complete $250m Refinancing Of Seniors Housing Portfolio

Popular Products