Marin Assisted Living Facility Sells To SoCal Investors

NOVATO, CA — A Novato assisted living facility has sold to a Southern California private equity firm.

Elegance Hamilton Hill was among two Bay Area facilities IRA Capital scooped up late last month, the firm said in a statement. Elegance at Dublin (Alameda County) is the other.

IRA Capital paid $106.5 million for the two 80-unit luxury facilities, the company said in a statement. Both facilities are managed by Elegance Senior Living.

The Novato facility is situated on a 414-acre master planned community.

The firm’s first assisted living sector acquisition is IRA Capital’s most recent purchase what has been an aggressive buying spree.

IRA Capital has spent approximately $750 million on acquisitions over the last 90 days, the company said.

“As one of the most active players in the medical office, life science, and ambulatory surgery space, IRA Capital is growing and diversifying its healthcare real estate portfolio with its latest $106.5 Million acquisition and launch of a new seniors housing strategy,” the company said in a statement.