Our funds
Your invesments are in safe hands
Current Funds
While our Funds primarily consist of pooled investment funds focusing on the Senior Housing Industry, IAA has also raised capital within Specific Project Funds to capitalize on local projects within the Triangle.
IAA Fund I, LP
IAA Fund I, LP $5,000,000
Fully Subscribed
We created our first pooled fund to provide mezzanine financing allowing for the acquisition of assisted living facilities that required updating and refurbishment. In partnership with ALG-Senior, that idea morphed into taking equity positions in those facilities. Starting with just over $4M in 2017/2018; the fund assets now exceed $10M and consist of equity interests in nine AL facilities in North Carolina and Georgia. Most recently (1Q2021), IAA Fund I, LP has begun construction of a new AL facility located in Rocky Mount, in partnership with Rocky Mount Mills and ALG-Senior.
IAA Fund Il, LP
IAA Fund II, LP $10,000,000
Fully Subscribed
Our second pooled fund continues to build on our success in the Senior Housing market. With an initial goal of $10M, IAA raised over $12.5M and closed to new investors at the end of 2019. The portfolio consists of equity interests in eleven Senior Housing facilities throughout North Carolina, Georgia, and Alabama. Swansboro House, a newly constructed 80 bed AL facility North of Wilmington, and Tarboro a $5M+ update/remodel of an older facility are both anticipating opening in 2Q2021.
IAA Fund Ill, LP
IAA Fund III, LP $20,000,000
Fully Subscribed
IAA Fund III, LP completed fundraising at the end of 2021, taking advantage of the reduced pricing on existing facilities impacted by COVID-19. The fund exceeded its $20MM goal, and has acquired interest in 18 AL/MC/IL facilities in NC, SC, and Georgia.
IAA OZ Fund I, LP
IAA OZ Fund I, LP $15,000,000
Closed
Our Opportunity Zone Fund is now fully subscribed and is no longer open to new investors. With $17.5M on hand, IAA OZ Fund I, LP has acquired land and CONs to build three new projects: Gardens of Clayton; Gardens of Henderson; and Gardens of East Flat Rock.
The Clayton project is a $35M 66 Bed Assisted Living/Memory Care facility with a 3 story 80-unit Independent Living Apartment community located off Glen Laurel Road and Hwy 42 in Clayton, NC.
The East Flat Rock project will likely be constructed in phases, beginning with a $15M 60 bed AL/ MC facility just outside of Hendersonville, NC.
The Vance County project consists of a newly developed 60+ bed AL/MC facility. Total project costs are anticipated to be $15M.
IAA OZ Fund II, LP
IAA OZ Fund II, LP $10,000,000
Fully Subscribed
A parallel Fund to IAA OZ Fund I. IAA OZ Fund II was created to assist our clients that continue to have Capital Gains. With a Funding Goal of $10 Million, IAA OZ Fund II will invest pro-rata in all IAA OZ Fund I projects located in Clayton, Hendersonville, and Henderson North Carolina.IAA Academy Park Fund, LP
IAA Academy Park Fund, LP $9,000,000
Fully Subscribed
Partnering with the Zahn, Stephenson, and Knier families; IAA Academy Park Fund I, LP is our only single-project based fund. The fund will have a 25% equity position in the $70M+ downtown Cary project known as The Walker.
The Walker is a new 153 luxury apartment community attached to the new Cary parking garage and overlooking the new $52M downtown Cary Park. In addition, we are building a 103,000 Square Foot Class A Office Building on the site adjacent to the Cary Library also attached to the parking garage.
Construction of the Walker luxury apartments is completed and opened
August 2022.
IAA and its partners are continuing to evaluate the construction of
the office space