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For Immediate Release
Media Inquires:
Sharon Finley
Public Relations Initiatives
928.717.1880
sharon@pr-initiatives.com
Ratel Investments Provides Equity
Infusion
for San Francisco Senior Housing Community
San Francisco, Calif.— December 21, 2003 – Ratel Investments, a real estate private equity firm, today announced it arranged an equity investment in Coventry Park, an assisted living facility located in the Pacific Heights neighborhood of San Francisco.
Opened in 1998, Coventry Park is a 5-story, 169-unit senior living community consisting of 145 independent and assisted living rental apartments, as well as 24 special-care rental units designed for residents with Alzheimer’s disease and other forms of dementia. The property is owned by 1550 Sutter Associates.
“We believe that an important and growing component of the multi-family housing market will be properties like Coventry Park which offer seniors an attractive, fully-serviced, rental housing community,” said Joe Gillach, Principal of Ratel Investments. “Seniors are the fastest growing segment of the population in California and because of San Francisco’s development barriers, there are too few market-rate options for middle class seniors looking to rent rather than purchase a retirement apartment.”
About Ratel Investments
Ratel Investments is a real estate private equity firm that purchases real estate assets both directly and indirectly with partners. Based in San Francisco, California, Ratel’s portfolio includes more than 1,000,000 square feet of income-producing real estate assets throughout the western United States.
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