April 9, 2021 - Boston
AEW Capital Management today announced it has closed AEW Senior Housing Investors IV, L.P. (“SHI IV”) with equity commitments totaling $576.8 million, inclusive of client and GP co-investment capital. This is AEW’s fourth partnership dedicated to the seniors housing sector. The partnership surpassed its $500 million target and was capitalized by a diverse group of public and private pension funds and insurance companies, including a strong backing from existing investors in the Fund series.
AEW SHI IV invests primarily in age-restricted, independent living, assisted living and memory care communities providing a continuum of care, targets investments in stabilized, cash-flowing properties, as well as select repositioning, renovation, recapitalization and development opportunities.
“While occupancy in 2020 was certainly impacted by the Covid-19 pandemic, there is a strong demographic-based demand for high-quality senior living properties and we are already seeing the current demand rebound within our portfolios across the Seniors Housing Investors Fund series,” said Brian Sunday, Senior Portfolio Manager, AEW Senior Housing Investors Funds. “Through this new fund, we will continue to focus on assets that offer strong income returns and value appreciation potential.”
AEW was an early investor in the sector with its first seniors housing investment in 1997. Since that time, they have acquired, repositioned and/or developed over 25,000 seniors housing units.
“Over the past 20 years, our seniors housing team has developed a vast sourcing network in this sector, and a robust pipeline of investment opportunities,” said Jon Martin, North American CEO of AEW Capital Management. “As a well-known source of capital for institutional-quality assets within the seniors space, we are confident that with patient investing, we believe we will deliver on the investment expectations of our clients.”
Founded in 1981, AEW Capital Management, L.P. (AEW) provides real estate investment management services to investors worldwide. One of the world’s leading real estate investment advisors, AEW and its affiliates manage approximately $85 billion of property and securities in North America, Europe and Asia (as of December 31, 2020). Grounded in research and experienced in the complexities of the real estate and capital markets, AEW actively manages portfolios in both the public and private property markets and across the risk/return spectrum. AEW and its affiliates have offices in Boston, Los Angeles, London, Paris, Düsseldorf, Hong Kong, Seoul, Singapore, Sydney and Tokyo, as well as additional offices in eight European cities. For more information please visit www.aew.com.
Gross asset value as of December 31, 2020. Total AEW AUM of $85.4 billion includes $41.5 billion in assets managed by AEW SA and its affiliates and $258 million in advisory/subadvisory, wrap and other accounts for which AEW Capital Management provides only a model portfolio.
For additional information, please contact Brian Lambert, AEW, at 1-617-261-9501 or Brian.Lambert@aew.com.