
WINTER PARK, FLORIDA, January 15, 2025 – Bourne Financial Group (“BFG” or “the firm”) is pleased to announce that the distribution* for one of its flagship offerings (“the Fund”) has been increased as of January 1, 2025. Investors also accrue a 10.0%** preferred return***, beginning on the date they are admitted to the Fund.
The Fund’s investment strategy is to acquire under-performing senior housing assets from stressed or over-leveraged owners, and there has been ample opportunity to do so following the disruption of the COVID-19 pandemic and subsequent economic headwinds for senior housing owners and operators.
As of January 1, 2025, the Fund has acquired two communities. The first, in Bluffton, South Carolina, was acquired in October 2023, and the second, in Knoxville, Tennessee, was purchased in May 2024.
Steve Case, chief investment officer for BFG, remarked, “Bluffton has exceeded our wildest expectations since being acquired by the Fund. Based on the yield-on-cost run rate, it is performing two years ahead of our conservative projections. We are thrilled with the performance of these communities and—based on current market conditions—optimistic about the ongoing opportunity to acquire viable properties at steep discounts.”
Bourne Financial Group is a boutique private equity firm specializing in the acquisition, development, and operation of senior housing communities. The firm was founded in 2014 by Robert Bourne and is headquartered in Winter Park, Florida. BFG currently has approximately $1 billion in assets under management. The portfolio consists of 25+ independent living, assisted living, and memory care communities across the U.S., totaling approximately 3,000 units.
*Distributions are made from operating cash flow. Per the Memorandum, if distributions are paid from any source other than cash flow from operations, it remains the firm’s responsibility to affirmatively breakdown the components of distribution.
**Annualized, Non-compounding.
***There can be no assurance that these objectives will be met.