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Newly Launched CA Health and Science Trust Lands Backing from Asset Management Firms
CA Health and Science Trust, Inc. (CAHST), a newly formed and externally managed private REIT, has closed on an investment of up to $245 million from partners Davidson Kempner Capital Management LP, Monarch Alternative Capital LP 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.
“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, CEO 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 closed on two acquisitions worth more than $50 million combined to acquire MOBs in Naperville, IL and Gilbert, AZ.
Pictured: Copper Point in Gilbert, AZ.
- ◦Sale/Acquisition
- ◦Financing
