Arcapita sells realty portfolio
11 June 2015
The portfolio includes 16 facilities and 4,000 residential units for continuing senior care.
Bahrain-based Islamic investment firm Arcapita said on Wednesday it had sold its real estate portfolio of retirement communities across the United States to NorthStar Healthcare Income Trust for $640 million.
The portfolio includes 16 facilities and 4,000 residential units for continuing senior care. Net operating income from the portfolio grew by 41 per cent between 2010 and 2014, despite a slump in the US housing market.