NEW YORK, March 15, 2018 /PRNewswire/ -- Fundamental
Advisors LP ("Fundamental"), a leading alternative asset manager
focused on public purpose assets, today announced the acquisition
of a mezzanine loan secured by interests in Tandem Health Care, a
skilled nursing and long-term healthcare portfolio, from HCP, Inc.
(NYSE: HCP) for $112 million. The
Tandem portfolio consists of 41 senior care facilities located
throughout Florida, Pennsylvania and Virginia.
An active investor in critical community assets, Fundamental
will leverage the firm's extensive experience investing in senior
care properties and expand its partnership with Senior Care
Development, LLC.
"As Fundamental's presence expands in the skilled nursing
sector, we are pleased to invest in Tandem Health Care and support
the crucial role these facilities serve in their communities," said
Laurence Gottlieb, Chairman and CEO
of Fundamental Advisors.
Sidley Austin LLP served as legal counsel to Fundamental in the
transaction.
About Fundamental Advisors
Fundamental Advisors is a
leading alternative asset manager dedicated to the municipal
markets. Founded in 2007, the firm is focused on targeting control
oriented investments in stressed and distressed assets or
securities, financing the development or revitalization of public
purpose assets, or acquiring undervalued securities in the
secondary market. Fundamental invests through a range of
vehicles that capitalize on the growing opportunity set in the
municipal market. For more information, please
visit www.fundamentaladvisorslp.com.
Contacts
Jonathan Keehner / Julie Oakes / Kate
Clark
Joele Frank, Wilkinson Brimmer
Katcher
212-355-4449
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SOURCE Fundamental Advisors