New post-acute care venture

Looks like Mainstreet will be gaining some new competition, with a new venture entering the transitional care space, with a plan to develop upwards of 12 projects, all of which are currently in some stage of pre-development. The new venture, called Innovative Health LLC, was started by Brian Cloch, the founder and former President of the Affordable Assisted Living Coalition, and Brad Haber, who came from GE Capital Healthcare Financial Services. Combined, the duo has 50 years of experience in the long-term care industry. The properties will go by a “prototype” with 60 to 70 transitional care beds, mostly in private rooms. To fund the projects, Innovative Health will obtain HUD or conventional debt, while the equity will come from a joint venture partner that is experienced in the space. Plus, in addition to the development, the new venture will look to acquire as well, depending on the situation.

 

 

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