In March 2022, Black Cypress Development, as part of FDL Health Investors Fund I-A, completed a significant acquisition of 11 healthcare properties located across Louisiana. The diverse portfolio, ranging from in-patient hospices and a skilled nursing facility to rehabilitation hospitals and medical office buildings, was snapped up in a sale-leaseback with a well-established healthcare network. The strategic transaction not only demonstrates our expertise in healthcare real estate but also our ability to identify lucrative, high-growth opportunities.
The acquisition was backed by a private equity fund for which Black Cypress Development successfully raised $52 million in capital and equity. This strategic, non-recourse financing approach allowed for over 90% leverage on the acquisition, reflecting our unique ability to secure advantageous financial arrangements. At the close of the transaction, the projected investor Internal Rate of Return (IRR) was slated at 21%.
This acquisition once again reiterates Black Cypress Development’s commitment to investing in high-performing assets that deliver strong, stable returns for our investors. It also underscores our capacity to manage complex transactions efficiently, reaffirming our status as a leading name in the real estate development and investment landscape. Working collaboratively with healthcare providers, we are proud to contribute to the growth and development of the healthcare sector in Louisiana and beyond.