Real Estate

NHI acquires Michigan assisted living/memory care facility for $10.8 mln

National Health Investors Inc has acquired Michigan-based Hampton Manor of Shelby, an assisted living/memory care facility. The price of the transaction was $10.8 million.

H.I.G. adds two managing directors to real estate team

H.I.G. Capital has named Jérome Fouillé and Jenny Hammarlund as managing directors to its real estate team. Prior to joining H.I.G., Fouillé was managing director and head of tactical opportunities at GIC while Hammarlund was a director in the real estate team at KKR.

Quality Built locks in funding from Gallant

Gallant Capital Partners has made an investment in San Diego-based Quality Built, a provider of third-party quality assurance services in the residential and commercial construction industry. No financial terms were disclosed for the transaction that was done in partnership with Brian Kramer and Beth Michaelis. UPDATE: Clear Capital served as financial adviser to Quality Built.

Kasada rakes in over $500 mln for initial Sub-Saharan Africa hospitality fund

Kasada Capital Management has raised over $500 million for its debut hospitality fund. The fund will target both greenfield and brownfield projects in Sub-Saharan Africa.

Investcorp buys eight distribution properties for about $170 mln

Investcorp has acquired a portfolio of eight single-tenant distribution properties in various locations in the U.S. The total price of the transaction was about $170 million.

CIT supports acquisition of medical office building complex

CIT Group Inc has provided $24.75 million to a joint venture between Kayne Anderson Real Estate Advisors and MBRE Healthcare. The financing will be used to acquire a Springfield, Massachusetts-based medical office building complex.

Turning Rock exits Capital Square 1031

Turning Rock Partners said April 22 that it sold its stake in Capital Square 1031. Financial terms weren’t announced. Management of the company acquired Turning Rock’s preferred equity stake. Capital Square is a real estate investment sponsor and asset management firm that provides recurring services to its clients.

Bridge recruits LaMassa as MD for capital markets group

Bridge Investment Group, a real estate investment management firm, has named Peter LaMassa as managing director in the capital markets group. The appointment becomes effective April 23, 2019. Previously, he worked at J.P. Morgan Wealth Management.

Blackstone to sell Boca Raton Resort & Club to MSD Partners

MSD Partners has agreed to acquire the Boca Raton Resort & Club from Blackstone. No financial terms were disclosed. The deal is expected to close by the end of the second quarter. Hilton will continue to manage the property under the Waldorf Astoria Hotels & Resorts brand.

CIT backs acquisition of Florida shopping mall

CIT Group has provided $28.6 million in financing for Fort Lauderdale, Florida-based The Quay, a shopping mall. The buyer is a joint venture managed by Mast Capital.