Blue Drake Capital is seeking to raise $70m (€65m) for its second US healthcare real estate fund.
The fund manager said it had to increase an initial $50m fundraising target for Blue Drake Med Fund II following early investor interest.
Fund II focuses on healthcare real estate, targeting acquisition and development opportunities in healthcare, dental and veterinary markets, aggregating properties in the Sun Belt region with an emphasis on Texas.
Robert Hoodis, a founding partner at Blue Drake Capital, said: “As we have seen during the last two recessions, consumers continue to prioritise their healthcare needs over other types of spending.
“Healthcare real estate remains resilient to economic volatility while delivering consistent returns due to long-term leases with annual rental growth and triple-net-lease reimbursement structures.”
Brian Sullivan, a founding partner at Blue Drake Capital, said: “Strong relationships coupled with our extensive industry research enables us to fully understand specific healthcare submarkets, ensuring our properties are well positioned and meet our proven investment criteria.
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Source: realassets.ipe.com
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