Insured success

Fortegra Financial Corporation, an affiliate of Tiptree Financial Inc., is a specialized insurance and insurance services company that is dipping its toes in the seniors housing market. That is not to say Tiptree is a debutante to the industry, with its wholly owned subsidiary Care Investment Trust making five acquisitions for 17 properties since 2013. For Fortegra, the company is acquiring a 77-unit senior living community with independent/assisted living and memory care services in Baton Rouge, Louisiana. The stabilized property was owned by a regional operator which is exiting the industry with this sale. Fortegra is paying $11.5 million, or $149,351 per unit, for the community and is bringing in Care Investment Trust to serve as asset manager and Traditions Senior Management to operate. Jacob Gehl, supported by Michael Segal, of Blueprint Healthcare Real Estate Advisors handled the transaction, while Clint Parker and Jeremy Joiner from Brown Gibbons Lang & Company Real Estate Partners assisted.

 

 

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