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California  + Bay Area  + Senior Housing  | 
Private equity firm IRA Capital has entered the seniors housing sector

IRA Capital Enters Seniors Sector with $107M Buy 

Private equity firm IRA Capital acquired two newly constructed assisted living and memory care facilities totaling 160 units in the Northern California cities of Dublin (Alameda County) and Novato (Marin County).  The $106.5-million transaction marks IRA Capital’s first acquisition in the sector, with a plan to continue strategically acquiring similar well-located assets in high barrier to entry markets along the west coast. 

The two class-A facilities are operated by Elegance Senior Living. They include Elegance at Dublin, an 80-unit community, and the 80-unit  Elegance Hamilton Hill in Novato. 

“The launch of our new seniors housing vertical is consistent with IRA’s goal of pursuing best-in-class assets that drive long-term growth for our investors, while providing quality services for the community,” said IRA Capital co-founder Jay Gangwal. IRA Capital has allocated approximately $1 billion to acquire 2,000-plus senior housing units over the next couple of years.   


Inside The Story

IRA Capital

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Sale/Acquisition