Fab 4 - The Intercontinental Portfolio
Before the end of 2005, TFG negotiated the purchase of The Fab 5, a portfolio that included five quality assisted living and memory care communities in the Northeast. The Fab 5 was purchased by a joint venture comprised of principals of Watermark and BayNorth Capital, a private equity firm based in Boston, MA. During the venture’s term, one of the communities was sold to a third party. In 2008, the Watermark/BayNorth venture sold the remaining four communities in the portfolio (the Fab 4) resulting in an impressive return on the venture’s investment. The Fab 4 was purchased by Intercontinental Capital Management and Watermark’s principals who reinvested in the new venture. Intercontinental is an SEC Registered Investment Adviser that manages private equity real estate investments $6 Billion of real estate assets across all property types. Today the Fab 4 portfolio is over 90% occupied.