FOR IMMEDIATE RELEASE:
Firm will invest $500M per year through development and value-add acquisitions, leveraging synergies with existing student and senior housing verticals
CHICAGO (Feb. 4, 2020) — CA Ventures, a Chicago-based real estate investment company, today announced the launch of a medical office and life sciences division, and the appointment of Russell Brenner as president of the new entity. Under Brenner’s leadership, CA plans to invest $500 million per year through development and value-add acquisitions across the U.S., leveraging the firm’s vast experience in dozens of markets.
“We’ve been evaluating an entry into the medical office and life sciences space for some time, not only because of strong market demand for healthcare real estate, but also because we’re uniquely positioned to leverage synergies with our existing senior housing and student housing verticals, the latter of which has investments near leading academic and research institutions across the country,” said Tom Scott, CEO of CA Ventures. “Russell has a firm grasp of how changing demographics and emerging technologies are informing real estate decisions, and how CA’s global platform and longstanding relationships can be used to gain market share and achieve attractive, risk-adjusted returns.”
Brenner comes to CA Ventures with over 24 years of real estate investment, finance and operational experience, most recently serving as partner at Stage Equity Partners and managing principal at Center Capital LLC. Throughout his career, he has led the acquisition, development and leasing of more than 7 million square feet of real estate, including medical office buildings and ambulatory surgery centers anchored by health systems such as Texas Children’s Hospital, HCA Healthcare, OhioHealth, United Surgical Partners International and Children’s Hospital Wisconsin.
“The median age of the U.S. population continues to rise, driving up demand for healthcare services, more of which are being provided outside of the traditional hospital setting,” said Brenner. “With total U.S. healthcare expenditures expected to reach upwards of $5.7 trillion by 2027, market opportunity in the medical office and life sciences space remains strong. At this pivotal moment in the industry, I look forward to joining a firm that will allow me to build and scale a platform dedicated to delivering high-quality investment opportunities in the healthcare space.”
CA Ventures has prior experience building and managing healthcare facilities through its senior housing investment, operations and development division, Anthology Senior Living. In addition to offering independent and assisted living, all of the 39 communities owned and operated by Anthology also provide full-service memory care with on-site medical staff, and most are proximate to major hospital systems.
“Many proof points indicate this is the right time to build out CA’s healthcare real estate capabilities,” said Ben Burke, president of Anthology Senior Living. “Oftentimes markets that are attractive for senior living also present opportunity for medical office, so, among other strategies, we will explore the intentional co-location of these uses – either in the same development or on sites that offer similar attributes in terms of location and demographics.”
One of Anthology’s newest developments, Atria Englewood, is strategically located adjacent to the renowned Swedish Medical Center campus in suburban Denver. Swedish Medical Center is a leader in stroke and neurotrauma treatment, with many medical office users located nearby, allowing for a continuum of care within a small geographic area.
About CA Ventures:
CA Ventures LLC is a global, vertically integrated real estate investment management company with more than $13 billion of assets across North America, South America and Europe. The Chicago-based firm offers comprehensive in-house investment, development, and operational services, and specializes in a range of niche, commercial real estate asset classes including student living, senior living, multifamily, industrial and office. CA manages real estate investments on behalf of some of the world’s largest institutional investors across a range of core, value-add and opportunistic investment vehicles. The firm also offers third-party management services for student, senior and residential assets. For more information, visit www.ca-ventures.com.
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