Prudential Real Estate Investors has committed another $30 million of equity to Chicago-based Lillibridge for the development and acquisition of health care real estate. Privately held Lillibridge currently has an ownership interest in approximately 6 million sq. ft. of health care real estate in 16 states. These properties include new developments and repositioned assets.
Prudential Real Estate Investors, based in Parsippany, N.J., has partnered with Lillibridge on three other equity raises in the past, and was one of Lillibridge’s initial investors when the company first began raising equity in April 1999. The real estate investment manager’s total equity commitment to Lillibridge over the past decade stands at more than $135 million.
“It’s a testament to the quality of our properties that we acquire and develop that we were able to secure this equity commitment in this time of very tough capital markets,” says Lillibridge Chairman and CEO Todd Lillibridge.
Lillibridge has worked with more than 250 hospitals and health systems across the country.