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PGIM Real Estate invests in UK senior housing

2021-03-22T14:23:00

PGIM Real Estate, on behalf of an investment strategy, has entered into a joint venture with Elevation, a specialist healthcare real estate investment management firm. The venture will fund developer-operators of new build care homes across the UK. PGIM Real Estate is partnering with Elevation in sourcing and structuring investments with operators. Elevation will provide ongoing asset and development management services.

PGIM Real Estate is the real estate investment and financing business of PGIM, the $1.5 trillion global investment management business of Prudential Financial, Inc. (NYSE: PRU). The venture has committed to its first investment with the development of two new purpose built state of the art care homes in Exeter and Didcot, in partnership with Care Concern Group, one of the industry’s most highly-regarded operators. The new homes in Exeter and Didcot are expected to be completed and open by late summer 2021 and 2022 respectively.

 

 

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