Cindat Capital unveils plans to expand into US senior-care homes

BEIJING - Cindat Capital Management Ltd, a Chinese investment firm focusing on overseas property, is seeking to spend $2 billion this year on elderly homes in the United States to capitalize on an ageing population.

The Beijing-based company, backed by bad-loan manager China Cinda Asset Management Co, is evaluating two investments of about $1 billion each into senior housing properties in the US, Co-Founder and CEO Greg Peng said.

"This is probably the only sector in the US where the supply has not met the fundamental demand," Peng said in an interview Wednesday in Hong Kong. "When the baby boomers turn 70 in the next five to 10 years, there'll be a huge increase in the old-age population, driving demand for senior health-care real estate."