Citrine Funding Group closed its first senior residing transaction in 2023, and by the top of this yr, the agency expects to have 4 communities spanning 600 items, representing $150 million in property below administration.
In line with Citrine Founder and President Lynn Jerath, that’s solely the beginning of what the corporate hopes to realize.
“When you get going on this area, there’s simply increasingly more alternative that comes,” Jerath instructed SHN. “We really feel actually good about this nexus between restricted provide and enhancing fundamentals.”
Citrine is targeted on turnaround or value-creation funding alternatives within the U.S. Midwest, Mid-Atlantic, and Southeast throughout the continuum of care, from impartial residing to assisted residing and reminiscence care. Rising in these three areas performs to Citrine’s strengths focusing on and rising in micro-markets.
At this time, Citrine works with three senior residing working companions. Jerath declined to call these companions, however she described one as a nationwide operator whereas two have been “super-regional” operators.
Jerath was acknowledged earlier this month within the fifth annual “Forbes 50 Over 50” record of girls over the age of fifty making an influence on their fields and breaking new floor. She beforehand held senior roles at Goldman Sachs, The Carlyle Group and GEM Realty Capital, earlier than founding Citrine.
“It was an entire shock and it’s one thing that I treasure,” Jerath stated.
Jerath stated she views the corporate’s position bridging the hole between capital companions and operators. Citrine constructions its offers as normal partnerships (GP) with third-party contracts in place with working companions.
“We’re not going to transact simply so we will say we did a deal. We have a look at dealmaking as a very vital ability set, nevertheless it’s within the context of a marketing strategy and an funding,” Jerath stated.
Going ahead, Citrine is in search of “turnaround or worth creation or repositioning” acquisition alternatives.
“I count on that momentum goes to extend and we’re going to continue to grow in 2026,” Jerath stated. “I feel senior residing funding continues to be an artwork and requires lots of judgment.”
Jerath added that challenges in frontline operations proceed to be excessive labor prices, and issues like actual property taxes and property insurance coverage.
“The best way we mitigate these headwinds is by structuring every deal in order that we now have sufficient flexibility to succeed, even when the best state of affairs doesn’t play out,” Jerath stated. “That method, if inflation or price pressures prove stronger than anticipated, we’re nonetheless positioned to handle by way of these challenges.”
Heading into 2026, Jerath stated Citrine was seeing “lots of compelling alternatives,” including that “this was their new regular” for funding in senior residing.
