Formation Capital (“Formation”) and Safanad Limited (“Safanad”) today announced that they have entered into an agreement to sell a $1.05 billion healthcare real estate portfolio comprised of 43 primarily private-pay senior housing facilities and 37 skilled nursing facilities (the “Portfolio”) to NorthStar Realty Finance Corp.

Press Release

Safanad, a global principal investment firm that invests in real estate, private equity and public markets across the U.S., Europe, Middle East and Asia, and Formation, a private investment firm focused on post acute services, senior housing and healthcare real estate, jointly acquired the Portfolio over a period of 3 years.

“As an active investor in post acute services, senior housing and health care real estate for over a decade, we are pleased to announce this transaction,” commented Brian Beckwith, Formation Capital’s Chief Executive Officer, adding “this transaction demonstrates Formation’s continued focus, together with Safanad, on creating value for our investors and partners.”

Safanad’s CEO, Kamal Bahamdan, commented, “Safanad as the lead investor, together with Formation Capital, have built a substantial senior care real estate platform in the US. While this partial exit realizes our expected return, it is also a validation of our senior care investment strategy. Consistent with this strategy, we will continue to actively explore further investment opportunities within this sector, while we maximize the value of the remaining assets.”

About Formation Capital:
Formation Capital is a leading private investment management firm focused on post acute services, seniors housing and care and health care real estate. Since 2002, Formation Capital has invested and managed more than $1.5 billion of equity capital in over 25 investments. For more information regarding Formation Capital, visit
www.formationcapital.com.

About Safanad Limited:
Safanad is a global principal investment firm that invests in real estate, private equity and public markets. As principal investors, Safanad preserves and grows wealth through carefully selected investments with aligned industry partners. With offices in New York, Dubai, London and Geneva, the firm seeks to identify global investment opportunities poised to deliver consistently attractive returns, where the firm’s capital and investment expertise support value creation. Safanad’s investment focus is primarily within the healthcare, education, financial services and retail sectors. For more information visit: www.safanad.com

Safanad Limited Press Contact:
Annette Bronkesh : +1 973.778.8648
abronkesh@safanad.com

Formation Capital Press Contact:
Kelly Sheehy : +1 678.578.8402