IRA Capital Expands Senior Housing Platform with $40M Colorado Acquisition and Key Leadership Hire
Capstone at Centerra: A 102-Unit Class-A Senior Living Community in Loveland, Colorado (Denver MSA)
IRVINE, CA / ACCESSWIRE / December 12, 2024 /IRA Capital ("IRA"), a leading private equity firm based in Irvine, California, is pleased to announce its $40 million acquisition of Capstone at Centerra ("Capstone"), a premier senior housing community located within the 3,000-acre Centerra master-planned development in Loveland, Colorado. Developed by Hunt Midwest in 2023, Capstone is a 95% occupied 102-unit Class-A community offering 56 assisted living apartments and 46 memory care residences. Thoughtfully designed to provide an exceptional living experience for seniors, Capstone 's prime location provides convenient access to nearby shopping, dining, and healthcare facilities including the UCHealth Medical Center of Rockies and Banner McKee Medical Center. The all-cash acquisition was completed in partnership with an institutional joint-venture partner, reaffirming IRA 's commitment to investing in high-quality, durable assets in top-performing markets.
"Capstone at Centerra is an excellent addition to our growing portfolio of premier, new vintage senior housing communities," said Azhar Jameeli, Managing Director at IRA Capital. "We remain committed to providing outstanding living experiences for residents while delivering superior risk-adjusted returns to our capital partners."
In addition to the recent Capstone acquisition, IRA has bolstered its leadership team with the onboarding of Andrew (Andy) Ciarfalia as Vice President of Asset Management to support IRA 's growing senior housing portfolio. Andy has over a decade of experience at Sunrise Senior Living, where he held leadership roles in asset management and financial planning. In his new role, Ciarfalia will focus on optimizing IRA 's senior housing asset management capabilities and driving the firm 's continued growth in the sector.
"Andy brings a wealth of experience and will be an invaluable member of IRA 's Senior Housing team as we continue to expand both our platform and portfolio," said Jay Gangwal, Managing Partner at IRA Capital.
IRA Capital 's senior housing portfolio comprises approximately 900 units, valued at over $400 million. The acquisition of Capstone caps off a highly active year for IRA, which invested $900 million in 2024, including $600 million in healthcare real estate across 20 properties. With strong demographic trends and favorable market fundamentals supporting growth, IRA plans to invest an additional $1 billion in the senior housing sector over the next 12 to 18 months. The firm 's continued focus on healthcare and senior housing reinforces its leadership in delivering consistent, long-term returns through high-quality real estate investments.
About IRA Capital
Founded in 2010, IRA Capital is a Southern California-based private equity firm specializing in real estate investments. To date, the firm has acquired over 10 million square feet of property across 28 states, with a total capitalization exceeding $3.5 billion. IRA partners with pension funds, institutions, and family offices to invest in high-quality assets. To learn more, visit www.iracapital.com.
For more information, please contact:
Danielle de Souza
Associate, Marketing
IRA Capital
ddesouza@iracapital.com
SOURCE: IRA Capital
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