Aviv will use the capital, in combination with debt financing, to acquire single property and multiple asset portfolios of skilled nursing and other healthcare facilities throughout the US. It recently acquired or financed 14 skilled nursing facilities with five different operators. That investment of approximately $33 million had approximately $7.8 million financed with the issuance of new convertible preferred equity to JER and approximately$25.2 million funded with Aviv's existing acquisition line with LaSalle Bank, NA. Following this transaction, Aviv's portfolio consists of 126 facilities representing an aggregate 12,000 beds.

Craig M. Bernfield, CEO and president of Aviv, says the company expects to add $300 million to $400 million in properties over the next few years. "In anticipation of raising external equity capital, we also invested significant resources to expand our platform."

Cohen & Steers Capital Advisors LLC acted as financial advisor and Sidley & Austin LLP acted as legal advisor to Aviv. O'Melveny & Myers LLP acted as legal advisor to JER.