BOSTON, MA (September 21, 2015) — Blue Moon Capital Partners LLC (“Blue Moon”), a leading senior housing private equity investor, announced today that it has closed on a $55.9 million development joint venture with affiliates Gerald H. Phipps, Inc. (“GH Phipps”), a premier Rocky Mountain regional general contractor and Ascent Living Communities (“Ascent”), an experienced Denver based senior living developer and operating company, for the ground up development of a 156-unit independent living, assisted living and memory care campus. Located in Lakewood, Colorado, The Village at Belmar will be adjacent to the popular, award winning Belmar Shopping District.
This marks the second of a series of opportunistic investments Blue Moon will make from their $175 million fund, Blue Moon Senior Housing I LP (“BMSH I”). BMSH I invests in development of new, purpose built, innovative senior housing communities in joint venture with leading senior housing developers and operators. In addition, BMSH I provides capital to operators who will reposition existing, well-located senior living communities that are in need of either refresh capital or more intensive renovation. BMSH I investments will be in NIC MAP top 50 markets and will seek to serve unmet demand in each primary market area.
Blue Moon, headquartered in Boston, Massachusetts and co-founded by Kathryn Sweeney and Susan Barlow, is focusing exclusively on the senior housing sector. Blue Moon’s team has a combined 40 years of experience in senior housing finance and operations. In December 2014 Blue Moon secured a $175 million capital commitment from Scout Fund II through Hawkeye Partners, LP out of Austin, Texas to form BMSH I. Of The Village at Belmar investment, Blue Moon Co-founder and Managing Partner, Susan Barlow, stated: “We are pleased to form this joint venture with principals of GH Phipps, Ascent and their affiliates, to bring this exciting, forward thinking senior living community to the City of Lakewood. GH Phipps has been integral in creating the modern day Denver metro and will make another significant contribution with The Village at Belmar in Lakewood. Ascent’s commitment to the community and senior living is just as strong and is the perfect partner to develop and operate this landmark project.”
Ascent Living Communities, headquartered in Denver, Colorado, is a full service senior living development, operations management and consulting services firm. Tom Finley, Ascent Living Communities Founder and Principal, stated “We appreciate the partnership with the Blue Moon team. In addition to capital, Blue Moon brings extensive senior housing experience and a commitment to working with us to grow the Ascent platform.” Contact: