Portfolio of 51 properties sold to leading provider of housing for individuals with behavioral health needs
MINNEAPOLIS, Nov. 30, 2021 /PRNewswire/ -- Hunter Street Partners ("Hunter Street"), a Minneapolis-based alternative investment management firm, is pleased to announce it has sold its portfolio of residential properties catering to individuals with intellectual and developmental disabilities ("IDD") to a private real estate investment company that targets income-producing housing in the sector.
Since the initial sale and leaseback acquisition in March 2019, the portfolio has grown from 22 properties to 51 single-family, duplex, multi-family, and acute care group homes. Hunter Street partnered with one of Minnesota's leading providers of services to individuals with IDD as their real estate capital partner.
"We are excited to have found a perfect acquirer that specializes in real estate for the behavioral needs space and will continue to serve existing residents," said Neal Johnson, CEO and CIO of Hunter Street. "We're proud of the solution we created with the local IDD community and the growth of the portfolio, which provides housing and expanded service offerings for individuals with a wide range of needs while meeting the objectives of our investors," said Andrew Platt, Partner at Hunter Street.
About Hunter Street Partners
Hunter Street Partners is a Minneapolis-based alternative investment management firm that provides capital solutions to operating partner teams and lower middle market companies across corporate finance, real estate, and specialty finance. The firm is focused on fundamentals-driven, asset-oriented credit and equity opportunities. Learn more about Hunter Street Partners at www.hunterst.com.
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SOURCE Hunter Street Partners