IRA CAPITAL PAYS $106 MILLION FOR CALIFORNIA ELDERLY HOUSING ASSETS

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Both Class A properties are operated by Elegance Senior Living and offer unparalleled amenities, resort-style hospitality, expert care, and numerous holistic health and wellness programs to ensure residents live safe and healthy lives. connected. Elegance to Dublin is an 80-unit community located within walking distance of a variety of shopping malls and restaurants, several hospitals, and is directly across from the Dublin Senior Center. Hamilton Hill Elegance in Novato is an 80-unit community located in the heart of the 414-acre masterplan community of Hamilton Field, close to shopping malls, restaurants and medical facilities. The property enjoys a serene atmosphere with beautiful bay and mountain views, and is within walking distance of the Hamilton Community Center and the Marin County Museum of Contemporary Art.

IRA Capital intensified its investment activity with approximately $750 million acquisitions in the last 90 days. “The launch of our new senior housing vertical is in line with the IRA’s goal of seeking best-in-class assets that drive long-term growth for our investors, while providing quality services to the community,” the IRA Capital co-founder said. Jay Gangwal. IRA Capital has allocated approximately $1 billion to acquire more than 2,000 seniors’ housing units over the next two years. As part of its planned growth, IRA is building a team around strategy and recently hired Azhar Jameeli as VP of Investments, who brings over a decade of industry experience. Mr. Jameeli has held various leadership positions in the senior housing niche, most recently at Healthpeak REIT, and prior to that at Holiday Retirement and Fortress Investment Group. According to Azhar Jameeli, “Despite the various challenges faced by senior housing resulting from the pandemic, there are tremendous opportunities ahead given the important demand drivers; I am delighted to join and help develop an entrepreneurial and innovative team that will become a dominant player in the space.”

About IRA Capital

IRA Capital is a Southern California private equity firm founded in 2010 that invests capital on its own behalf and on behalf of its co-investment partners, which include pension funds, institutions and family offices. IRA invests in commercial real estate assets through United States and has a private equity/venture capital platform that invests in operating companies across various industries. Based at irvine californiaIRA has acquired more than seven and a half million square feet of property in 30 states, valued at more than $3.0 billion.

For more information please contact:
Danielle de SouzaIRA Capital Corporate Communications
[email protected] / 949.612.2742

SOURCE IRA Capital

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