Cadence Senior Living, Emerald Investment Management Form Seniors Housing Investment Partnership
SCOTTSDALE, ARIZ., AND NEWPORT BEACH, CALIF. — Cadence Senior Living, a Scottsdale-based owner, developer and operator, and Emerald Real Estate Partners LLC, an investment management firm based in Newport Beach, have formed a strategic partnership for investing in seniors housing.
According to the companies, the partnership will allow Cadence to expand its portfolio of boutique senior living. Emerald will provide additional acquisition capital, working capital and expertise in increasing scale, due to the company’s experience in other real estate sectors.
Emerald principal Josh Martin stated that Emerald “had been searching for a senior living operator with which to grow a platform in this sector.”
The Cadence and Emerald partnership is seeking opportunities to acquire existing senior housing communities, develop new communities and leverage Cadence’s management team by operating senior living communities for third-party owners.