Oak Brook, Illinois-based Inland Private Capital Corporation (IPC) has completed a more than $46 million capital raise for the private investment offering of Algonquin Senior Living DST, an IPC-sponsored Delaware statutory trust.

The DST owns a Class A, private pay, 186-unit senior living community in Algonquin, Illinois. The community is comprised of independent living, assisted living and memory care units. The offering has been fully subscribed by investors and is now closed.

“While several factors are driving senior living demand growth, the aging U.S. population is increasing the need for communities and services,” commented Nati Kiferbaum, senior vice president – head of investment product strategy for IPC.

To date, IPC’s senior living portfolio consists of 1,273 units and a total of nine communities across Arizona, Illinois, Kansas, Minnesota and Missouri. IPC also manages a diverse portfolio of more than $12.2 billion across several asset classes spanning 43 states.

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With the recent closing of the WellStar Atlanta Medical Center, Grady Memorial Hospital believes it is time to jump into the breach. Besides its vaunted burn unit, Grady is left with the town’s only Level-1 trauma center.

Grady Memorial Hospital is pursuing a $46 million project that includes upgrades to the decades-old burn unit at its Downtown Atlanta campus. The Atlanta Business Chronicle reports it would also renovate lab space and add over 100 healthcare workers. Just over $22 million would be spent on improvements to the burn unit, with the rest going toward renovated labs. About a third of the project would be funded with philanthropic donations. The 953-bed hospital is the center of the state’s indigent health care system.

Sections of the facility have not undergone significant renovation in many years. The project will kick off in June and is expected to be completed in April 2025.