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IRA Capital Continues its Senior Housing Portfolio Expansion with the Acquisition of Quail Park of Lynnwood

Irvine, CA – June 12th, 2024 – (500NewsWire) -- IRA Capital (“IRA”), a leading private equity firm based in Irvine, California, is pleased to announce its recent acquisition of Quail Park of Lynnwood (“Quail Park”), a 253-unit, Class-A, senior housing property located in Lynnwood, WA (Seattle MSA). The all-cash acquisition of Quail Park adds another premier asset to IRA’s expanding healthcare portfolio and underscores its unwavering commitment to addressing the growing needs of the elderly community.

Quail Park, spread across 15 acres and developed in two phases in 2013 and 2020, is an upscale, highly amenitized senior living community boasting full-size kitchens and spacious floor plans. Residents and their families have full access to best-in-class amenities and care at the community including a pool, fitness center, putting green, on-site chapel, and pub.

The acquisition was completed in partnership with an institutional joint-venture partner, which includes plans to invest additional capital to update common areas and amenities. “We are thrilled about acquiring Quail Park and continuing our growth in the senior housing sector,” said Jay Gangwal, Managing Partner at IRA Capital. “With a robust pipeline of investment opportunities, we anticipate closing on another $325 million in new investments over the next 30 days.”

“Quail Park of Lynnwood is a testament to our commitment to senior housing and our growth-focused strategy,” said Azhar Jameeli, Managing Director at IRA Capital. “We aim to provide exceptional living experiences for residents while delivering strong returns for our investors and partners.”

About IRA Capital

IRA Capital is a Southern-California based private equity firm founded in 2010 by partners Amer Kasm, Samir Patel, Jay Gangwal, Amer Malas, and Mohannad Malas. IRA invests capital for its own account and on behalf of its co-investment partners, which include pension funds, institutions, and family offices. Headquartered in Irvine, California, IRA has acquired over seven million square feet of property in 26 states, with a total capitalization greater than $3.0 Billion. To learn more, visit www.iracapital.com.

For more information, please contact:
Danielle de Souza
Associate, Marketing
IRA Capital
[email protected]