$150 million fund will enable private equity firm to build upon and expand successful strategy employed with first fund
DALLAS, April 17, 2013 – After successfully deploying the capital from its first $50 million discretionary investment fund into 12 investments in 19 healthcare facilities, Dallas-based real estate private equity firm MedProperties Holdings LLC has launched its second investment fund with a target raise of $150 million.
The fund, MedProperties Investment Partners LP, held its initial closing of capital commitments in January, and will keep the fund open to additional capital commitments during the next 12 months.
“Our new fund’s investment strategy will, for the most part, mirror the successful strategy we employed with our first fund,” MedProperties Managing Principal Darryl E. Freling says. “Through partnerships with healthcare developers and owner/operators, we will invest in a balanced portfolio of both ground-up development projects, as well as in existing healthcare properties that offer immediate cash flow and value-added opportunity. Also, as in our first fund, we will invest in a mix of both multi-tenant medical office buildings and single tenant specialty facilities such as rehab hospitals, ambulatory surgery centers (ASCs) and specialty surgical hospitals.”
Mr. Freling added, “Our investment strategy will, however, be expanded to include investments in senior housing, particularly higher acuity senior housing projects such as assisted living and memory care facilities that we believe carry higher barriers to entry.”
“We remain very optimistic about the growth and opportunities in healthcare real estate,” says MedProperties Managing Principal Roman J. Kupchynsky II. “National demographics will continue to drive growth in the health service sector, and with the presidential election and the Supreme Court decision on the Accountable Care Act behind us, industry decision makers have greater clarity to frame their strategy, which we have already seen translate into an acceleration of investment opportunities for our company.”
“With the launch of our new fund, we will continue to expand our platform on a national basis through investment partnerships with new developers and owner/operators in additional markets throughout the country,” added Mr. Freling.
About MedProperties
MedProperties Holdings LLC is a Dallas-based healthcare real estate private equity firm with offices in Greenville, S.C., that provides qualified developers and owner/operators with a consistent source of equity investment for the development of new or value-added acquisitions of existing, healthcare-related real estate projects, including both multi-tenant medical office buildings and single-tenant, specialty facilities. MedProperties invests through its discretionary funds, MedProperties Capital Partners LP and MedProperties Investment Partners LP, and is dedicated solely to healthcare real estate. For further information on MedProperties, please visit http://www.medpropertieslp.com/
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