Inland Private Capital Corporation (IPC), an alternative investment management firm and a sponsor of 1031 tax deferred exchanges, has launched its newest investment platform focused on acquiring, owning and managing senior living communities across the nation.
The company has partnered with Spectrum Retirement Communities LLC, a private owner, operator and developer of senior living communities nationwide, which manages more than 45 communities and has an additional five currently under construction. Phil Shapiro Senior Living LLC will serve as IPC’s senior living advisor.
“While this move serves as an expansion of our existing line of healthcare-related offerings, it also underscores our continued focus on delivering a diversified suite of Delaware statutory trust product options to the marketplace,” said Keith Lampi, president and chief operating officer of IPC.
“When looking at the historic investment performance for this asset class – its recession-resiliency, growing demand drivers – in addition to the current supply and demand imbalance that exists, we believe the senior living sector is well positioned to offer our marketplace a product that intersects healthcare and real estate – each nearly 20 percent of U.S. GDP and growing,” said Nati Kiferbaum, senior vice president, head of investment product strategy of IPC.
In addition to entering the senior living sector, Inland Private has expanded into new asset types over the past several years and has executed more than $1 billion in transactions throughout the self-storage, student housing and hospitality sectors. However, IPC said that it remains vertically integrated throughout the core sectors in real estate, which include apartments, industrial, office and retail.
Inland Private Capital Corporation had sponsored 241 private placement real estate offerings as of June 30, 2019, many of which were designed for investors seeking replacement property to complete an IRS Section 1031 exchange. The company is the largest provider of securitized 1031 exchange opportunities in the country, with a national footprint of more than 600 properties, representing approximately $8 billion in assets under management.