Real Estate Private Equity
Summerville Investors, LLC
Description
BRP formed a JV to invest in one fee and 14 leasehold interests in assisted living facilities.

Thesis
We controlled leasehold interests through non-recourse structures with healthcare REITs. BRP took advantage of aggressive pricing and structures afforded by healthcare REITs that were facing extreme growth pressure in a sector that lacked quality tenants/operators. Our proprietary relationship with Summerville Senior Living, Inc. allowed us to access market information during the underwriting process and turnaround failing operations with one of the nation's best assisted living management teams.
Equity Investment
$18.4 million