Fengate Asset Management has acquired two recently built healthcare centres in Delaware and Florida.

Toronto-based Fengate announced the acquisitions in a news release.

The two properties comprise operating in-patient rehabilitation facilities (IRFs) in Georgetown, Del., and Tavares, Fla., which is in the Orlando area. The acquisitions add to Fengate’s growing social-infrastructure portfolio, bringing it to a total of 45 assets and more than 4,900 beds.

The Georgetown facility, a 34-bed IRF, began operations in 2022, while the Tavares facility, with 42 beds, opened in 2023. Both facilities provide vital intensive rehabilitation services to patients following acute care, offering essential support in the healthcare continuum by focusing on cost-effective treatment options and enabling major hospitals to focus on core services, said the company in a news release.

“The acquisition of these facilities is important to our social-infrastructure strategy, which includes a commitment to enhancing healthcare infrastructure in the U.S. as well as delivering long-term, predictable and contracted returns for our investors,” said Andrew Cogan, managing director and portfolio manager of the Fengate Infrastructure Yield Fund.

Fengate is managing the investment on behalf of the Fengate Infrastructure Yield Fund and affiliated entities, including an investment by the LiUNA Pension Fund of Central and Eastern Canada.

Fengate, a leading alternative investment manager, manages more than US$7 billion in capital commitments across infrastructure, private equity, and real estate. The firm has focused on infrastructure since 2006, with investments spanning the transportation, social, energy transition, and digital sectors.