Islamic lender Kuwait Finance House (KFH) has teamed up with Grosvenor Investment Management U.S. (GIM) to invest up to $600 million in healthcare-related real estate, Reuters reports. The alliance will aim at the acquisition and development of private-pay senior living facilities and medical office buildings in the U.S.
Allocations will be made via equity joint ventures with local and regional operating and development partners. GIM is the North American division of London-based Grosvenor Fund Management.
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