FOR IMMEDIATE RELEASE
Platform Swiftly Executes on More Than $50 Million in Acquisitions Following Initial Closing
CHICAGO (September 14, 2021) – CA Health and Science Trust, Inc. (“CAHST”), a newly formed and externally managed private real estate investment trust (REIT) focused on the acquisition and development of value-add and core-plus medical office and life science facilities across the U.S., today announced the closing of an investment of up to $245 million from partners Davidson Kempner Capital Management LP (“Davidson Kempner”), Monarch Alternative Capital LP (“Monarch”) and CA Ventures. CAHST intends to use the proceeds from the investment for the acquisition, development and renovation of medical office and life science buildings and for general corporate purposes and working capital. CAHST is externally managed by CAHST Management LLC, a global vertically integrated real estate investment management company affiliated with CA Ventures.
“The investment, backed by asset management firms Davidson Kempner and Monarch, is a direct reflection of the CAHST team’s extensive industry expertise and execution reliability,” said Tom Scott, board chairman for CA Health and Science Trust and chief executive officer of CA Ventures. “There could not be a platform better equipped to capitalize on the enormous opportunity existing in the healthcare real estate sector.”
In connection with the closing of the investment, CAHST has announced the closing of two acquisitions worth more than $50 million combined to acquire medical office buildings in Naperville, Illinois and Gilbert, Arizona. The transactions account for a total of 131,049 square feet across Illinois and Arizona – two U.S. markets experiencing strong demand for medical office buildings driven by compelling macroeconomic tailwinds fueling demand for healthcare real estate.
“I am incredibly proud of the CAHST team and grateful for our partners, who have allowed us to hit the ground running with more than $50 million in initial transactions to accompany the official closing of the private offering – momentous accomplishments that allow us to capitalize on the strong demand for outpatient healthcare real estate and the continued growth and success we have experienced in the medical office and life science space,” said Russell Brenner, president of CA Health and Science Trust. “CAHST’s successful launch is a sign of the compelling opportunities ahead of us as we continue to acquire, build and renovate a national portfolio of healthcare real estate assets for our tenants, providing them with premier facilities for the delivery of healthcare services and medical research.”
“The closing of the Naperville and Gilbert properties are the result of our veteran team’s extensive medical office sector experience and industry relationships to source attractive investment opportunities for the growing CAHST portfolio,” said Jesse Ostrow, chief investment officer of CA Health and Science Trust. “This significant milestone marks an exciting inflection point in our medical office and life sciences strategy and will help us deliver significant value to both tenants and investors.”
The offering and sale of securities pursuant to the investment was conducted pursuant to an exemption under the Securities Act of 1933, as amended (the “Securities Act”), or applicable state securities laws, and have been sold in a private placement pursuant to Regulation D under the Securities Act. The sale of securities pursuant to the investment has not been registered under the Securities Act and may not be sold in the U.S. absent registration or an exemption from the registration requirements of the Securities Act.
This press release does not constitute an offer to sell or the solicitation of an offer to buy the securities described herein, nor shall it constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale is unlawful.
About CA Health and Science Trust, Inc.
CA Health and Science Trust, Inc. (“CAHST”) is an externally managed private Real Estate Investment Trust (REIT) based in Chicago, Illinois, strategically designed to invest in the acquisition and development of core-plus, value-add medical office and life science facilities across the United States. For more information, visit www.cahstreit.com.
About CA Ventures
CA Ventures (“CA”) is a global vertically integrated real estate investment management company with more than $13 billion in assets across the United States, Europe and Latin America. 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 medical office/life sciences. 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, residential, medical office and life science assets. For more information, visit www.ca-ventures.com.
About Davidson Kempner Capital Management LP
Davidson Kempner Capital Management LP is a U.S.-registered global institutional investment management firm with more than 35 years of experience and a focus on fundamental investing with a multi-strategy approach. Davidson Kempner has more than $37 billion in assets under management with over 400 professionals in five offices, including New York, Philadelphia, London, Hong Kong and Dublin.
About Monarch Alternative Capital LP
Monarch Alternative Capital LP is a global investment firm founded in 2002 with approximately $9 billion in assets under management. Monarch focuses primarily on opportunistic and distressed situations across corporate debt, real estate, special situations, and other market segments. Monarch draws on the skills and experience of its employees across its offices in New York and London. For more information, please visit www.monarchlp.com.
For CA Health and Science Trust and CA Ventures
+1 513 262 1937
For Davidson Kempner
Steve Bruce / Mary Beth Grover
email@example.com / firstname.lastname@example.org
+1 203 693 6997
For Monarch Alternative Capital
Jeremy Fielding / Kekst CNC
+1 212 521 4858
Safe Harbor Statement
The release includes certain “forward-looking statements.” All statements, other than statements of historical fact, included in this release regarding, among other things, our strategy, future operations, financial position, anticipated dividends, projected costs, prospects, pipeline and opportunities, use of proceeds from a securities offering, plans and objectives are forward-looking statements. Forward-looking statements can be identified by words such as “will,” “could,” “would,” “potential,” “target,” “goal,” “anticipates,” “intends,” “plans,” “seeks,” “believes,” “estimates,” “expects,” “projects” and similar references to future periods. Forward-looking statements are based on our current expectations and assumptions regarding future events and financial trends that we believe may affect our financial condition, results of operations, business strategy, short- and long-term business operations and objectives, and financial needs. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. Our actual results may differ materially from those contemplated by the forward-looking statements. We caution you, therefore, against relying on any of these forward-looking statements. They are neither statements of historical fact nor guarantees or assurances of future performance. There are risks, uncertainties and other factors, both known and unknown, that could cause actual results to differ materially from those in the forward-looking statements which include, but are not limited to, regional, national or global political, economic, business, competitive, market and regulatory conditions, currency exchange rates and other factors. Any forward-looking statement made by us is based upon the reasonable judgment of our management at the time such statement is made and speaks only as of the date on which it is made. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We undertake no obligation to update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by applicable law.
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