November 22, 2016 / 7:30 AM / 3 years ago

Bahrain's Arcapita buys U.S. senior citizen housing for $110 mln

DUBAI, Nov 22 (Reuters) - Investment management firm Arcapita said on Tuesday it had acquired a privately-held portfolio of three housing schemes for senior citizens in the United States for around $110 million.

The “senior living communities”, located in the metropolitan areas surrounding Washington D.C. and Atlanta, follow the Bahrain-based company’s acquisition of three similar schemes in Colorado for a total of $87 million earlier this year.

The properties will be managed by an affiliate of Arbor Company, a community management company, it added. (Reporting by Tom Arnold; Editing by Mark Potter)

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