Clearwater Living and Berkshire Realty Ventures, an investment vehicle co-managed by an affiliate of Berkshire Residential Investments and Broadview Real Estate Partners, has partnered for a second time on a capital fund aimed at developing and strategically acquiring senior living assets.

Berkshire and Clearwater partnered together in 2016 when Berkshire made an entity-level investment to provide support for organizational growth and general partner equity to capitalize Clearwater’s development projects and acquisitions.  Backed by investors including Harrison Street Partners, Goldman Sachs and Virtus, the initial venture has completed five communities with another currently under construction. 

“Our longstanding commitment to putting our clients at the center of all we do aligns with Berkshire and Broadview’s investor-centric philosophies and approach to their businesses,” said Tony Ferrero, CEO of Clearwater Living. “Our firms draw on decades of investment and operational experience that are critical to achieving successful outcomes in an ever-changing real estate landscape.”

“Investors want exposure to the opportunities available in the senior living sector but are often challenged to access leading managers that invest with discipline and skill,” said Christopher Hilbert, chief investment officer of Clearwater Living. “The partnership more than doubled its initial investment which will enhance our ability to provide institutional partners additional opportunities managed by industry leaders.”