Bridge Investment Group Holdings Inc. announced that it has launched a $75 million program to acquire, develop, and operate needs-based senior housing assets within the United States. As part of the venture, StepStone Real Estate (“SRE”) co-invested in an existing portfolio managed by Bridge and intends to help build the platform by co-investing in other senior housing assets identified by Bridge in the future.
“We teamed with Bridge because we believe their vertically integrated platform and their approach to investing, informed by their property-level operating capabilities, will position them to successfully execute this strategy”
“Bridge’s partnership with StepStone represents a strategic milestone as we continue to expand our needs-based seniors housing strategy,” commented Robb Chapin, Chief Executive Officer and Co-Chief Investment Officer for Bridge’s Seniors Housing vertical. Blake Peeper, Co-Chief Investment Officer of Bridge Seniors, also commented, “We are excited to work together with StepStone to strategically invest in seniors housing, a sector supported by attractive market fundamentals.”
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“This program helps StepStone fulfill its dual objectives of furthering our social mission by helping to provide housing to senior residents on a needs-basis and also to provide attractive risk adjusted returns to our investors,” according to John Waters, Partner and Head of Investments for SRE. “We teamed with Bridge because we believe their vertically integrated platform and their approach to investing, informed by their property-level operating capabilities, will position them to successfully execute this strategy,” he added.
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About Bridge Investment Group
Bridge is a leading, vertically integrated real estate investment manager, diversified across specialized asset classes, with approximately $31.8 billion of assets under management as of September 30, 2021. Bridge combines its nationwide operating platform with dedicated teams of investment professionals focused on select U.S. real estate verticals: residential rental, office, development, logistics net lease, logistics properties, and real estate-backed credit.
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