As demographic pressures intensify and the number of elderly individuals requiring support continues to grow, investment in purpose-built care facilities has become essential to ensure adequate capacity, quality of care, and long-term resilience in Germany’s elderly care sector. ESL will seek to aggregate a diversified portfolio of prime and essential assets leased to established healthcare and senior living operators that demonstrate strong track records in operational excellence and care quality.
Seeded with an initial equity commitment of €150 million from an institutional investor, ESL has signed its first transaction; a prime portfolio of nine care homes and 40 assisted-living apartments diversified across North and West Germany, underpinned by strong operating performance with all care homes currently more than 90% occupied. The assets will be leased to Alloheim Group, Germany’s largest care home operator1, on long-term inflation-indexed leases. (Press Release)
The transaction is expected to complete in Q4 2026 and supports ESL’s strategy of directing long-term institutional capital to critical social infrastructure and positive environmental impact. In February 2026, Elevation became a signatory of the Operating Principles of Impact Management (“OPIM”). ESL will form part of Elevation’s ongoing disclosures to OPIM from 2027, reporting on the strategy’s social impacts and outcomes under its Social Framework.
The launch builds on Elevation’s established European experience. Elevation first invested in continental Europe in 2021 through a partnership with senior living and healthcare listed operator Clariane, across 23 healthcare assets located in France, Germany and Spain. ESL extends that strategy with a specialist platform supported by Elevation’s dedicated team that has leadership experience in German senior living and healthcare operations.
Andrea Auteri, Managing Partner at Elevation, said: “The launch of ESL is an important milestone in Elevation’s European growth. It also reflects our conviction that the senior living market presents deep undersupply characteristics, less of the affordability pressure evident in other living categories, and compelling opportunities to deliver positive social impact. Germany’s senior living market combines strong long-term demand with a clear need for modern, fit-for-purpose real estate. ESL gives us the capacity to invest with a long-term perspective, working alongside experienced operators to create resilient portfolios and support the necessary development of essential care infrastructure.”
About Elevation
Elevation is a specialist investment manager in the European healthcare real estate sector with over €2.75bn of assets under management (as of 31 March 2026) in four countries (U.K., France, Germany and Spain) spanning care homes, rehabilitation clinics and specialist assets for learning disabilities and mental health. Elevation manages seven assets in Germany, with the total increasing to 16 on completion of this acquisition.
Follow us on LinkedIn >
< Back to news
Disclaimer
This press release is issued by Elevation Advisors LLP, which is authorised and regulated by the Financial Conduct Authority. The information contained herein is provided for informational purposes only and does not constitute investment advice, an offer to buy or sell any financial instrument, or a solicitation of any kind. Past performance is not a reliable indicator of future results. Any forward-looking statements or projections are based on current assumptions and subject to risks and uncertainties that may cause actual outcomes to differ materially. This communication is intended solely for professional clients and eligible counterparties as defined by the FCA. It is not directed at retail clients and should not be relied upon by any person who does not meet the criteria for professional client classification. Investments may involve significant risk, including the potential loss of capital. Recipients should seek independent financial advice before making any investment decisions. While reasonable care has been taken to ensure the accuracy of the information provided, Elevation Advisors LLP makes no representation or warranty as to its completeness or reliability and accepts no liability for any loss arising from reliance on it.
Angesichts des zunehmenden demografischen Drucks und der wachsenden Zahl älterer Menschen mit Pflegebedarf sind Investitionen in zweckgebundene Pflegeeinrichtungen unerlässlich, um ausreichende Kapazitäten, eine hohe Versorgungsqualität und die langfristige Widerstandsfähigkeit des deutschen Pflegesektors sicherzustellen. ESL beabsichtigt, ein diversifiziertes Portfolio aus hochwertigen, versorgungsrelevanten Immobilien aufzubauen, die an etablierte Betreiber vermietet werden. Diese Betreiber sollen über eine starke operative Exzellenz und Pflegequalität verfügen.
ESL wurde mit einer anfänglichen Eigenkapitalzusage eines institutionellen Investors in Höhe von €150 Millionen aufgelegt und hat bereits die erste Transaktion unterzeichnet: ein hochwertiges Portfolio aus neun Pflegeheimen und 40 betreuten Wohneinheiten an starken Standorten in Nord- und Westdeutschland. Das Portfolio verfügt über eine starke operative Basis und sämtliche Pflegeheime weisen derzeit eine Auslastung von über 90 % auf. Die Immobilien werden im Rahmen langfristiger, inflationsindexierter Mietverträge an die Alloheim Gruppe, Deutschlands größten Pflegeheimbetreiber, vermietet.
Der Abschluss der Transaktion wird für das vierte Quartal 2026 erwartet. Sie unterstützt die Strategie von ESL, langfristiges institutionelles Kapital in kritische soziale Infrastruktur mit positiver ökologische Wirkung zu investieren. Im Februar 2026 unterzeichnete Elevation die Operating Principles of Impact Management (OPIM). Ab 2027 wird ESL Teil der laufenden Berichterstattung von Elevation im Rahmen der OPIM sein, wobei über die sozialen Auswirkungen und Ergebnisse der Strategie gemäß dem sozialen Rahmenwerk berichtet wird.
Diese neue Investmentplattform baut auf der etablierten Europaerfahrung von Elevation auf. Elevation investierte erstmals 2021 in Kontinentaleuropa – im Rahmen einer Partnerschaft mit Clariane, einem börsennotierten Betreiber im Seniorenwohn- und Gesundheitssektor, über 23 Gesundheitsimmobilien in Frankreich, Deutschland und Spanien. ESL führt diese Strategie über eine spezialisierte Plattform fort, die von Elevation‘s Team unterstützt wird, welches über Führungserfahrung im deutschen Seniorenwohn- und Gesundheitsbetrieb hat.
Andrea Auteri, Managing Partner bei Elevation, sagte: „ESL ist ein wichtiger Meilenstein für das Wachstum von Elevation in Europa. Die Plattform unterstreicht zugleich unsere Überzeugung, dass der Markt für Seniorenimmobilien durch ein erhebliches Unterangebot, einen geringeren Erschwinglichkeitsdruck als andere Wohnsegmente und attraktive Möglichkeiten zur Erzielung positiver sozialer Wirkung geprägt ist. Der deutsche Markt für Seniorenimmobilien verbindet eine starke langfristige Nachfrage mit einem klaren Bedarf an modernen, bedarfsgerechten Immobilien. ESL versetzt uns in die Lage, mit langfristiger Perspektive zu investieren und gemeinsam mit erfahrenen Betreibern widerstandsfähige Portfolios aufzubauen sowie die notwendige Weiterentwicklung essenzieller Pflegeinfrastruktur zu unterstützen.“
Über Elevation
Elevation ist ein spezialisierter Investmentmanager im europäischen Gesundheitsimmobiliensektor mit Assets under Management von über 2,75 Mrd. Euro in vier Ländern (Großbritannien, Deutschland, Frankreich und Spanien). Elevation‘s Portfolio umfasst Pflegeheime, Rehabilitationskliniken, und spezialisierte Einrichtungen für Menschen mit Lernbehinderungen und psychischen Erkrankungen. Elevation verwaltet derzeit sieben Objekte in Deutschland – mit Vollzug dieser Akquisition steigt die Gesamtzahl Elevation’s Objekte in Deutschland auf 16.
Follow us on LinkedIn >
< Back to news
Disclaimer
This press release is issued by Elevation Advisors LLP, which is authorised and regulated by the Financial Conduct Authority. The information contained herein is provided for informational purposes only and does not constitute investment advice, an offer to buy or sell any financial instrument, or a solicitation of any kind. Past performance is not a reliable indicator of future results. Any forward-looking statements or projections are based on current assumptions and subject to risks and uncertainties that may cause actual outcomes to differ materially. This communication is intended solely for professional clients and eligible counterparties as defined by the FCA. It is not directed at retail clients and should not be relied upon by any person who does not meet the criteria for professional client classification. Investments may involve significant risk, including the potential loss of capital. Recipients should seek independent financial advice before making any investment decisions. While reasonable care has been taken to ensure the accuracy of the information provided, Elevation Advisors LLP makes no representation or warranty as to its completeness or reliability and accepts no liability for any loss arising from reliance on it.
The portfolio provides 979 care beds including 40 assisted-living apartments, located in and around Hamburg, Hanover, Dortmund and Cologne-Bonn. The modern, attractive and purpose-built assets have an average age of 12 years, a single-room ratio of 94%, and strong operational performance with high occupancy and care-quality ratings above the German national average.
On completion, ESL will purchase the assets and let them on long-dated inflation linked leases to Alloheim Group (“Alloheim”), Germany’s largest care home operator1. Simultaneously Alloheim will acquire the operations of the incumbent operator INTEGRA, continuing the operator’s strong track record of person-centred care services. The transaction brings together Elevation’s specialist senior living and healthcare real estate expertise and Alloheim’s established operating platform, creating a long-term partnership focused on maintaining high-quality care environments for residents.
The portfolio also offers strong environmental credentials, with 79% of the assets achieving energy performance ratings between EPC A+ and B. Alloheim’s sustainability strategy is aligned with that of ESL, and Elevation and Alloheim will work together to identify further practical improvements, which could include renewable energy procurement and energy-efficiency measures. In February 2026, Elevation became a signatory of the Operating Principles of Impact Management (“OPIM”). ESL will form part of Elevation’s ongoing disclosures to OPIM from 2027, reporting on the strategy’s social impacts and outcomes under its Social Framework.
Tom Rietz, Managing Director, Strategy & Mergers and Acquisitions (M&A) at Alloheim Group said: “Our new partnership with Elevation marks an important additional next step for Alloheim’s growth ambitions. We look forward to building on the homes’ strong operational quality, while preserving the excellent brand and reputation of the INTEGRA group, its local expertise, continuity and culture that have supported residents and colleagues to date.”
Andrea Auteri, Managing Partner at Elevation said: “This is a rare opportunity to acquire a portfolio of modern, well-located care homes with high occupancy and strong care-quality, alongside an experienced operator. Alloheim has an established presence in Germany and a proven approach to integrating care businesses while maintaining continuity at home level. We are pleased to establish this long-term partnership and support our strategy of investing in high-quality, needs-based senior living real estate with strong environmental and social impact. We look forward to continuing to grow our presence in Europe and advancing our vision of providing institutional capital with access to the growing senior living and healthcare real estate asset class across Europe.”
Elevation was advised by GÖRG (Legal), EY (Tax and Financial), Savills (Technical DD, ESG, and Valuation), IMMOTISS (Commercial DD), ORIZN (Commercial Advice) and Care for Care (Operational DD).
About ESL
European Senior Living (“ESL”) is a new European senior living impact real estate investment platform advised by Elevation Advisors LLP (“Elevation”), a specialist healthcare and senior living real estate investment manager. The strategy is targeting €600 million of investments in needs-based care home and assisted-living real estate with a focus in Germany and on modern high-quality assets in strong locations, and long-term partnerships with established operators. The platform has been structured to support the introduction of additional institutional commitments as Elevation seeks to scale the strategy and broaden access to European healthcare real estate.
About Elevation
Elevation is a specialist investment manager in the European healthcare real estate sector with over €2.75bn of assets under management (as of 31 March 2026) in four countries (U.K., France, Germany and Spain) spanning care homes, rehabilitation clinics and specialist assets for learning disabilities and mental health. Elevation manages seven assets in Germany, with the total increasing to 16 on completion of this acquisition.
About Alloheim Group
The Alloheim Group is the largest private provider of inpatient and outpatient care services in Germany. Founded as a family business in 1973, the Alloheim Group has since grown to encompass 294 senior residences, 95 assisted-living locations, and 24 outpatient care services nationwide. In addition to elderly care, Alloheim also offers specialized care for young adults, socio-psychiatric care, and care for patients in a coma. In total, the Alloheim Group employs approximately 27,500 people nationwide and has more than 28,000 beds in inpatient care as well as around 3,500 units in assisted living. The Alloheim Group brings together several care providers under one roof, including, among others, the care facilities of the CMS Group, Itertalklinik Seniorenzentren, Pro Talis, and Katharinenhof.
Follow us on LinkedIn >
< Back to news
Disclaimer
This press release is issued by Elevation Advisors LLP, which is authorised and regulated by the Financial Conduct Authority. The information contained herein is provided for informational purposes only and does not constitute investment advice, an offer to buy or sell any financial instrument, or a solicitation of any kind. Past performance is not a reliable indicator of future results. Any forward-looking statements or projections are based on current assumptions and subject to risks and uncertainties that may cause actual outcomes to differ materially. This communication is intended solely for professional clients and eligible counterparties as defined by the FCA. It is not directed at retail clients and should not be relied upon by any person who does not meet the criteria for professional client classification. Investments may involve significant risk, including the potential loss of capital. Recipients should seek independent financial advice before making any investment decisions. While reasonable care has been taken to ensure the accuracy of the information provided, Elevation Advisors LLP makes no representation or warranty as to its completeness or reliability and accepts no liability for any loss arising from reliance on it.
Das Portfolio umfasst 979 Pflegeplätze, darunter 40 Wohnungen für betreutes Wohnen, und befindet sich in starken Mikrolagen in und um Hamburg, Hannover, Dortmund und Köln/Bonn. Die modernen, attraktiven und Zweck-gebauten Objekte sind im Durchschnitt zwölf Jahre alt, verfügen über einen Einzelzimmeranteil von 94% und weisen eine starke operative Performance mit hoher Auslastung sowie über dem deutschen Bundesdurchschnitt liegenden Bewertungen der Pflegequalität auf.
Nach Vollzug der Transaktion erwirbt ESL die Immobilien und schließt neue langfristige Mietverträge mit der Alloheim Gruppe („Alloheim“), Deutschlands größter Pflegeheimbetreiber1. Gleichzeitig wird Alloheim die Betriebe des bisherigen Betreiber INTEGRA übernehmen und dessen starke Erfolgsbilanz in der personenzentrierten Pflege fortführen. Die Transaktion verbindet Elevations spezialisierte Expertise in Senioren- und Gesundheits-Immobilien mit Alloheims etablierter Betreiberplattform. So entsteht eine langfristige Partnerschaft mit dem Ziel, den Bewohnerinnen und Bewohnern dauerhaft hochwertige Pflegeumgebungen zu bieten.
Das Portfolio weist zudem ein starkes Nachhaltigkeitsprofil auf: 79% der Objekte erreichen Energieeffizienzklassen zwischen EPC A+ und B. Die Nachhaltigkeitsstrategie von Alloheim steht im Einklang mit der von ESL und demnach werden Elevation und Alloheim gemeinsam weitere Verbesserungsmöglichkeiten identifizieren, darunter der Bezug erneuerbarer Energien und Maßnahmen zur Steigerung der Energieeffizienz. Im Februar 2026 unterzeichnete Elevation die Operating Principles of Impact Management (OPIM). Ab 2027 wird ESL Teil der laufenden Berichterstattung von Elevation im Rahmen der OPIM sein, wobei über die sozialen Auswirkungen und Ergebnisse der Strategie gemäß dem sozialen Rahmenwerk berichtet wird.
Tom Rietz, Geschäftsführer Unternehmensstrategie & M&A der Alloheim Gruppe, sagte: „Unsere neue Partnerschaft mit Elevation ist ein wichtiger weiterer Schritt bei der Umsetzung der Wachstumsambitionen von Alloheim. Wir freuen uns darauf, auf der hohen operativen Qualität der Einrichtungen aufzubauen und zugleich die starke Marke und den ausgezeichneten Ruf der INTEGRA, sowie ihre lokale Expertise, Kontinuität und Kultur zu bewahren, welche die Mitarbeiter sowie die Bewohnerinnen und Bewohner bislang unterstützt haben.“
Andrea Auteri, Managing Partner bei Elevation, sagte: „Dies ist eine seltene Gelegenheit, gemeinsam mit einem erfahrenen Betreiber ein Portfolio moderner, gut gelegener Pflegeeinrichtungen mit hoher Auslastung und hoher Pflegequalität zu erwerben. Alloheim verfügt über eine etablierte Präsenz in Deutschland und einen bewährten Ansatz zur Integration von Pflegebetrieben bei gleichzeitiger Wahrung der Kontinuität auf Einrichtungsebene. Wir freuen uns, diese langfristige Partnerschaft zu beginnen und damit unsere Strategie zu unterstützen, in hochwertige, bedarfsorientierte Seniorenimmobilien mit starkem ökologischem und sozialem Impact zu investieren. Wir wollen unsere Präsenz in Europa weiter ausbauen und unsere Vision voranbringen, institutionellen Anlegern Zugang zur wachsenden Anlageklasse der Senioren- und Gesundheits-Immobilien in Europa zu eröffnen.“
Elevation wurde bei der Transaktion unterstützt durch GÖRG (Rechtsberatung), EY (Steuern und Finanzen), Savills (Technische DD, ESG und Valuation), IMMOTISS (Kommerzielle DD), ORIZN (Kommerzielle Beratung) und Care for Care (Operative DD).
Über ESL
European Senior Living („ESL“) ist eine neue europäische Impact-Investmentplattform für Seniorenimmobilien, welche von Elevation Advisors LLP („Elevation“), einem auf Gesundheits- und Senioren-Immobilien spezialisierten Investmentmanager, beraten wird. Die Strategie sieht Investitionen in Höhe von 600 Mio. Euro in bedarfsorientierte Pflegeheim- und Seniorenwohn-Immobilien vor, mit Schwerpunkt auf Deutschland und modernen und hochwertigen Objekten in starken Lagen sowie langfristigen Partnerschaften mit etablierten Betreibern. Die Plattform wurde so strukturiert, dass zusätzliche institutionelle Kapitalzusagen aufgenommen werden können, während Elevation die Strategie skaliert und den Zugang zu europäischen Gesundheitsimmobilien erweitert.
Über Elevation
Elevation ist ein spezialisierter Investmentmanager im europäischen Gesundheitsimmobiliensektor mit Assets under Management von über 2,75 Mrd. Euro in vier Ländern (Großbritannien, Deutschland, Frankreich und Spanien). Elevation‘s Portfolio umfasst Pflegeheime, Rehabilitationskliniken, und spezialisierte Einrichtungen für Menschen mit Lernbehinderungen und psychischen Erkrankungen. Elevation verwaltet derzeit sieben Objekte in Deutschland – mit Vollzug dieser Akquisition steigt die Gesamtzahl Elevation’s Objekte in Deutschland auf 16.
Über die Alloheim Gruppe
Die Alloheim Gruppe ist der größte private Anbieter stationärer und ambulanter Pflegedienstleistungen in Deutschland. Im Jahr 1973 als Familienunternehmen gestartet, ist die Alloheim Gruppe inzwischen auf bundesweit 294 Senioren-Residenzen, 95 Standorte im Betreuten Wohnen und 24 ambulante Pflegedienste gewachsen. Neben der Altenpflege, bietet Alloheim auch Spezialpflege für junge Erwachsene, sozialpsychiatrische Pflege und Wachkoma-Pflege an. Insgesamt beschäftigt die Alloheim-Gruppe bundesweit rund 27.500 Mitarbeitende und verfügt über mehr als 28.000 Betten in der stationären Pflege sowie rund 3.500 Wohnungen im Betreuten Wohnen. Die Alloheim Gruppe vereint mehrere Pflegeanbieter unter einem Dach: neben den Alloheim Senioren-Residenzen, gehören z.B. die Pflegeeinrichtungen der CMS-Gruppe, die Itertalklinik Seniorenzentren, Pro Talis und Katharinenhof dazu.
Follow us on LinkedIn >
< Back to news
Disclaimer
This press release is issued by Elevation Advisors LLP, which is authorised and regulated by the Financial Conduct Authority. The information contained herein is provided for informational purposes only and does not constitute investment advice, an offer to buy or sell any financial instrument, or a solicitation of any kind. Past performance is not a reliable indicator of future results. Any forward-looking statements or projections are based on current assumptions and subject to risks and uncertainties that may cause actual outcomes to differ materially. This communication is intended solely for professional clients and eligible counterparties as defined by the FCA. It is not directed at retail clients and should not be relied upon by any person who does not meet the criteria for professional client classification. Investments may involve significant risk, including the potential loss of capital. Recipients should seek independent financial advice before making any investment decisions. While reasonable care has been taken to ensure the accuracy of the information provided, Elevation Advisors LLP makes no representation or warranty as to its completeness or reliability and accepts no liability for any loss arising from reliance on it.
The three new construction projects, forming part of MACC’s development programme over the next 2-3 years, are located in areas with a notable undersupply of wetroom facilities and will collectively add 244 wetroom beds. Each project, meeting MACC’s high standards for comfort and design, aims for an EPC rating of A upon completion and will incorporate renewable and low carbon technologies, including PV solar panels.
MACC is a care home and senior living operator and developer with a portfolio comprising over 1,300 predominantly ensuite wetroom beds in 18 care homes, as well as 4 senior living schemes. This financing builds on Elevation’s strong partnership with MACC, beginning in 2023, and reflects Elevation’s ongoing commitment to supporting the sustainable growth of the business.
ECP III’s strategy is to provide high-quality operators and developers of UK senior housing real estate with a range of customised loan financing options including investment term loans, development loans, mezzanine loans and preferred equity. Loans can be sized between £10m and £100m, with LTV of up to 80% and development LTC of up to 85%, over a term of 2 to 5 years and will be used to support acquisitions, developments, lease-up, refinancing and recapitalisation.
“We are excited to continue our strong relationship with MACC built over the last 3 years with a significant multi-scheme financing package tailored to the group’s ambitions. Supporting MACC’s growth, with the group’s very high standards in both operations and build quality, aligns squarely with ECP III’s purpose of working with best-in-class operators and developers to deliver bespoke funding solutions for sustainable growth.
With the continuing urgent need for high-quality care beds designed for the UK’s growing elderly population, we recognise the importance of funding schemes which deliver wetroom provision to local communities with large undersupplies, and so we are delighted to finance these construction projects with high ESG specifications.”
Zach Smith, Investment Director at Elevation
Overview image features Millfield Rose Care Home, financed by ECP II in partnership with MACC Group.
Follow us on LinkedIn >
< Back to news
Disclaimer
This press release is issued by Elevation Advisors LLP, which is authorised and regulated by the Financial Conduct Authority. The information contained herein is provided for informational purposes only and does not constitute investment advice, an offer to buy or sell any financial instrument, or a solicitation of any kind. Past performance is not a reliable indicator of future results. Any forward-looking statements or projections are based on current assumptions and subject to risks and uncertainties that may cause actual outcomes to differ materially. This communication is intended solely for professional clients and eligible counterparties as defined by the FCA. It is not directed at retail clients and should not be relied upon by any person who does not meet the criteria for professional client classification. Investments may involve significant risk, including the potential loss of capital. Recipients should seek independent financial advice before making any investment decisions. While reasonable care has been taken to ensure the accuracy of the information provided, Elevation Advisors LLP makes no representation or warranty as to its completeness or reliability and accepts no liability for any loss arising from reliance on it.
ECP III’s strategy is to provide high-quality operators and developers of U.K. senior housing real estate with a range of customised loan financing options including investment term loans, development loans, mezzanine loans and preferred equity. Loans will be sized between £10m and £100m, with LTV of up to 80% and development LTC of up to 85%, over a term of 2 to 5 years and will be used to support acquisitions, developments, lease-up, refinancing and recapitalisation.
The successful capital raise – Elevation’s third private credit vehicle – builds on Elevation’s intimate familiarity with the U.K. senior housing sector, Elevation’s single focus on the healthcare real estate market and Elevation’s proven track record managing private credit.
ECP III will focus on the delivery of positive outcomes in the senior housing market and combine both high-quality sustainability performance with the delivery of positive social outcomes within the sector. Through targeted deployment utilising Elevation’s robust due diligence process and frameworks, ECP III will seek to benefit service users, employees and local communities.
Zach Smith, Investment Director at Elevation said: “Following the successful deployment of two previous senior housing private credit funds, we are delighted to raise capital that will further increase the supply of much-needed senior housing and elderly care beds, and provide sustainable, tailored funding solutions to high-quality operators in the U.K.. We are committed to supporting this critical sector and the increased debt financing capability offered by ECP III will provide top-tier borrowers with greater flexibility and increased choice to accelerate their business growth and support their existing portfolios. With the chronic undersupply of elderly care beds and senior housing in the U.K. and increasing demand from long-term demographic trends, we are delighted to give investors access to this underserved market and provide vital capital to support positive social outcomes across the U.K..”
Disclaimer
This press release is issued by Elevation Advisors LLP, which is authorised and regulated by the Financial Conduct Authority. The information contained herein is provided for informational purposes only and does not constitute investment advice, an offer to buy or sell any financial instrument, or a solicitation of any kind. Past performance is not a reliable indicator of future results. Any forward-looking statements or projections are based on current assumptions and subject to risks and uncertainties that may cause actual outcomes to differ materially. This communication is intended solely for professional clients and eligible counterparties as defined by the FCA. It is not directed at retail clients and should not be relied upon by any person who does not meet the criteria for professional client classification. Investments may involve significant risk, including the potential loss of capital. Recipients should seek independent financial advice before making any investment decisions. While reasonable care has been taken to ensure the accuracy of the information provided, Elevation Advisors LLP makes no representation or warranty as to its completeness or reliability and accepts no liability for any loss arising from reliance on it.
The £53 million development facility provides funding for three new 100% wet-room, high-quality schemes. The first site, referenced in the press release dated 20 December 2023 (here), is a best-in-class care home in Great Wyrley (South Staffordshire) with 90 beds and 32 co-located retirement living apartments. Construction is underway and the home is due to open in early 2025, with the apartments due to complete in 2024.
The Credit Fund has now allocated the balance of the facility for the next two assets in Brownhills and Shirley in the West Midlands, with 90 and 72 ensuite wet-room beds respectively. Construction is due to commence on both sites in November 2024.
MACC is a well-regarded regional operator that has grown rapidly, opening 9 homes in the last 6 years. The MACC portfolio comprises over 980 predominantly ensuite wet-room beds in 14 operating homes across the Midlands, with high-specification builds situated in prominent locations. This development financing builds on the £125 million of senior and junior loans arranged and provided by the Credit Fund in Q2 2023, continuing Elevation’s strong partnership with MACC and commitment to continue supporting the sustainable growth of the business.
The three developments are targeting both an EPC rating of A and a ‘Very Good’ BREEAM Construction rating. The completed projects will benefit from a number of sustainability features including air source heat pumps and solar panels to help deliver efficient assets built for the future. The assets will encourage sustainable travel options through the inclusion of EV charging points and covered cycle storage, in addition to their proximity to local public transport links. The three developments incorporate increased levels of biodiversity through the provision of ample green space and ecology planning. All of the homes in MACC’s portfolio hold an EPC rating of A or B, which aligns with Elevation’s strategy of transitioning all homes to perform at the highest standards which the new developments will also meet or exceed.
Andrea Auteri, Managing Partner at Elevation said: “We are excited to expand our partnership with MACC by providing funding to continue its trajectory in developing next generation real estate, as we continue the deployment of the Credit Fund. The senior housing sector is severely undersupplied; its granularity, fragmentation and high barriers to entry mean that it is hard to access the sector in scale. Elevation is pleased to accelerate the provision of purpose-built accommodation by offering innovative financing that enables high-quality operators to ramp up their business plans and gives large investors access in scale to the sector.”
Follow us on LinkedIn >
< Back to news
Disclaimer
This press release is issued by Elevation Advisors LLP, which is authorised and regulated by the Financial Conduct Authority. The information contained herein is provided for informational purposes only and does not constitute investment advice, an offer to buy or sell any financial instrument, or a solicitation of any kind. Past performance is not a reliable indicator of future results. Any forward-looking statements or projections are based on current assumptions and subject to risks and uncertainties that may cause actual outcomes to differ materially. This communication is intended solely for professional clients and eligible counterparties as defined by the FCA. It is not directed at retail clients and should not be relied upon by any person who does not meet the criteria for professional client classification. Investments may involve significant risk, including the potential loss of capital. Recipients should seek independent financial advice before making any investment decisions. While reasonable care has been taken to ensure the accuracy of the information provided, Elevation Advisors LLP makes no representation or warranty as to its completeness or reliability and accepts no liability for any loss arising from reliance on it.
Signature Senior Lifestyle is highly regarded as a best-in-class developer and operator of 10 award-winning senior care communities in and around Greater London, totalling 878 high-quality apartments and large studios with elegant, nurturing environments for residents, staff and communities.
Strategically located in the high-demand areas of Enfield, Surbiton and Hornchurch, the three new purpose-built sites will add circa 90 beds to their respective markets (total 270 beds) and each will provide circa 110 new jobs to the local community. The all-wetroom high-quality assets are built with longevity in mind and will mirror the exceptional standard of Signature’s existing homes.
The new developments are now underway and are due to open to residents in 2026. The homes contribute positively to the Signature’s ESG strategy and are targeting an EPC rating of A and a BREEAM New Construction rating of Very Good, evidencing high-quality specification, design and build processes. Solar panels will be installed on all sites to their maximum capacity to deliver onsite energy generation and will meet the latest regulations in terms of fire safety sprinkler systems. The sites will also benefit from air source heat pumps for space heating and hot water supply, energy and water efficiency technology, and large green and outdoor spaces to enhance biodiversity and the wellbeing of residents, staff and visitors.
Kay Cox, Chief Executive Office, Signature Senior Lifestyle commented: “The Signature brand is synonymous with exceptional later living lifestyle and care, and we were so proud when our most recent home, Signature at Highgate, was named Knight Frank’s Luxury Care Home of the Year. We will be building on this expertise to ensure our three new homes go even further in delivering the later living lifestyle dreams of older people in Enfield, Surbiton, and Hornchurch, and to set new standards for elegance, comfort, and service. Like our existing homes, all three will continue to champion safety, transparency and accountability through our ongoing investment in safety monitoring technology, and how we use this technology to drive personalised care and mentoring for residents and colleagues. We are hugely grateful for the ongoing support of Elevation and our partners at Natwest and Virgin Money, and we look forward to welcoming new residents and colleagues to these homes in 2026.”
Craig Ambler, Senior Director, Virgin Money said: “We are absolutely thrilled to continue to our relationship with Signature and Elevation by funding the development of two new care homes. All Signature homes combine fantastic care and hospitality with exceptional settings. We look forward to seeing these homes open in 2026 creating more local jobs and further addressing the care provision shortfall.”
Ashleigh Dorrington-Harvey, Director, Healthcare & Life Sciences at NatWest commented: “NatWest continues to be dedicated to the healthcare sector, including supporting leading operators in the elderly care space such as Signature. We are delighted to have supported their latest purpose-built, 92- bed care home development in Enfield with a development facility”.
Simon Webster, Partner at Elevation said: “We are delighted to continue our partnership with Signature, Virgin Money and NatWest and support the next phase of their growth. These new sites, in sought-after locations around London, will fulfil the market need for modern assets that make a positive contribution to their communities. Furthermore, a strategy to implement identified opportunities that further improve the environmental sustainability of Signature’s current operating homes is being rolled out across the already high-performing portfolio.”
About Signature Senior Lifestyle
Signature Senior Lifestyle offers luxury assisted living, nursing, respite and dementia care in locations across London and the home counties. Each of Signature’s luxury care homes is unique and has its own sense of community. All of Signature Senior Lifestyle’s ten operational homes offer award-winning care, luxurious surroundings and top-quality dining and nutrition. They are beautifully designed with excellent facilities, from state-of-the-art dementia care floors to cinemas, hair salons and restaurants, with attention paid to every detail.
Follow us on LinkedIn >
< Back to news
Disclaimer
This press release is issued by Elevation Advisors LLP, which is authorised and regulated by the Financial Conduct Authority. The information contained herein is provided for informational purposes only and does not constitute investment advice, an offer to buy or sell any financial instrument, or a solicitation of any kind. Past performance is not a reliable indicator of future results. Any forward-looking statements or projections are based on current assumptions and subject to risks and uncertainties that may cause actual outcomes to differ materially. This communication is intended solely for professional clients and eligible counterparties as defined by the FCA. It is not directed at retail clients and should not be relied upon by any person who does not meet the criteria for professional client classification. Investments may involve significant risk, including the potential loss of capital. Recipients should seek independent financial advice before making any investment decisions. While reasonable care has been taken to ensure the accuracy of the information provided, Elevation Advisors LLP makes no representation or warranty as to its completeness or reliability and accepts no liability for any loss arising from reliance on it.
PGIM Real Estate is the US$210 billion real estate investment business of PGIM and the third-largest real estate firm globally. Elevation is a specialist investment manager in the European healthcare real estate sector with approximately £2 billion of assets under management.
Nabil Mabed, senior portfolio manager of European value-add strategy at PGIM Real Estate, comments: “This is a landmark deal for the UK senior living sector and a hugely attractive growth opportunity for us, which strengthens our European value-add portfolio. Working with Elevation, we are confident we can add value to Signature on behalf of our investors. Being one of the largest real estate investors globally, we are seeing real estate markets stabilise, and we maintain our conviction in the UK following the reset in valuations over the last two years.”
The Signature portfolio consists of 13 senior living communities, comprising 10 operating properties and three consented development projects in and around Greater London. Signature’s established management team will continue to operate the homes with a focus on continuity and brand growth.
As a priority, Signature will focus on ensuring all assets are future-proofed through the integration of the latest technologies and standards, with the portfolio currently achieving or targeting a BREEAM New Construction rating of ‘Excellent’ or ‘Very Good’. A strategy to implement identified opportunities to further improve the environmental sustainability of the operating homes has been identified and will be rolled out across the already high-performing portfolio.
Simon Webster, partner at Elevation, said: “We carefully select operating partners who are proven to create best-in-class environments, have an excellent record in care and can evidence a positive impact on their respective local communities. We are delighted to extend our relationship with Signature, who are recognized as one of the premier senior living brands in the UK, and are looking forward to growing the brand. Plans are underway to start construction on three new developments in the Greater London area later this year. We are also excited to expand our partnership with PGIM Real Estate and draw from their wealth of institutional and sector expertise to grow the Signature footprint.”
Kay Cox, CEO of Signature, said: “PGIM Real Estate and Elevation have a proven track record of supporting operators in the senior living sector. This investment is a natural next step in our lifecycle, together with the expertise to help us achieve our ambitions and enhance our brand as a market-leading senior living provider. With our amazing team and best-in-class assets combined with a strong development pipeline, we are well placed for the next stage in our growth. We are incredibly excited about what we can achieve together in the years ahead.”
ENDS
About Elevation
Elevation is a specialist investment manager in the European healthcare real estate sector with approximately £2 billion of assets under management in four countries (UK, France, Germany and Spain), with more than 160 assets spanning care homes, rehabilitation clinics, and specialist assets for learning disabilities and mental health.
About PGIM Real Estate
With US$210 billion in gross assets under management and administration (US$134 billion net), PGIM Real Estate provides investors and borrowers access to a range of real estate equity, real estate debt, agriculture, and impact solutions across the risk-return spectrum.
PGIM Real Estate is a business of PGIM, the global asset management business of Prudential Financial, Inc. (NYSE: PRU). PGIM Real Estate’s risk management approach, execution capabilities and industry insights are backed by a 50-year legacy of investing in commercial real estate, a 140-year history of real estate financing, and the local experience of professionals in 32 cities globally. Through its investment, financing, asset management, and talent management approach, PGIM Real Estate engages in practices that strive to ignite positive environmental and social impact, while pursuing activities that seek to strengthen communities around the world. For more information visit pgimrealestate.com.
About PGIM
PGIM is the global asset management business of Prudential Financial, Inc. (PFI). PFI has a history that dates back over 145 years and through more than 30 market cycles. With 41 offices in 19 different countries (as of 31 March 2024), our more than 1,450 investment professionals are located in key financial centres around the world.
Our firm comprises multi-managers that collaborate with each other and specialise in a particular asset class with a focussed investment approach. This gives our clients diversified solutions with global depth and scale across public and private asset classes, including fixed income, equities, real estate, private credit, and other alternatives. As a leading global asset manager with US$1.34 trillion in assets under management (as of 31 March 2024), PGIM is built on a foundation of strength, stability and disciplined risk management. For more information, visit pgim.com.
Prudential Financial, Inc. (PFI) of the United States is not affiliated in any manner with Prudential plc, incorporated in the United Kingdom, or with Prudential Assurance Company, a subsidiary of M&G plc, incorporated in the United Kingdom. For more information, please visit news.prudential.com.
Follow us on LinkedIn >
< Back to news
Disclaimer
This press release is issued by Elevation Advisors LLP, which is authorised and regulated by the Financial Conduct Authority. The information contained herein is provided for informational purposes only and does not constitute investment advice, an offer to buy or sell any financial instrument, or a solicitation of any kind. Past performance is not a reliable indicator of future results. Any forward-looking statements or projections are based on current assumptions and subject to risks and uncertainties that may cause actual outcomes to differ materially. This communication is intended solely for professional clients and eligible counterparties as defined by the FCA. It is not directed at retail clients and should not be relied upon by any person who does not meet the criteria for professional client classification. Investments may involve significant risk, including the potential loss of capital. Recipients should seek independent financial advice before making any investment decisions. While reasonable care has been taken to ensure the accuracy of the information provided, Elevation Advisors LLP makes no representation or warranty as to its completeness or reliability and accepts no liability for any loss arising from reliance on it.
The £53 million development facility will facilitate construction of three new sites, starting with a modern, best-in-class care home in Great Wyrley (South Staffordshire) and 32 co-located retirement living apartments with high-quality shared amenities. The development is targeting both an EPC rating of A and a ‘Very Good’ BREEAM Construction rating. The completed project will benefit from a number of sustainability features including air source heat pumps and solar panels to help deliver an efficient, future-proofed asset.
The MACC portfolio comprises over 900 predominantly en-suite wetroom beds in 13 operating homes across the Midlands, with high-specification builds situated in prominent locations. MACC has undergone a period of very strong growth, opening 8 homes in the last 5 years with 2 more now in construction. This development financing builds on the £124.7 million of senior and junior loans provided by the Credit Fund in Q2 2023, continuing Elevation’s strong partnership with MACC and commitment to continue supporting the sustainable growth of the business.
The additional financing will allow MACC to continue its trajectory in developing next generation, future-proofed real estate while maintaining its excellent standards in 24-hour comprehensive care. All of the homes in MACC’s portfolio hold an EPC rating of A or B, which aligns with Elevation’s strategy of transitioning all homes to perform at the highest standards which the new developments will also meet or exceed. The first new development of a market-leading care home with integrated retirement living units, will also deliver a positive societal impact by reducing the level of undersupply of quality care beds and purpose-built accommodation in its community.
Andrea Auteri, Managing Partner at Elevation said: “We are excited to continue our partnership with MACC by providing funding to grow the portfolio with three additional high-quality care schemes, as we continue the deployment of our Credit Fund with a leading institutional real estate investor. The senior housing sector is severely underserved; its granularity, fragmentation and high barriers to entry mean that it is hard to access the sector in scale. Elevation is pleased to accelerate the provision of fit-for-purpose accommodations by offering innovative financing to enable high quality operators to ramp up their business plans and giving large investors access in scale to the sector. Fulfilling the market need for future proof assets squarely aligns with Elevation’s ambitious ESG strategy.”
Follow us on LinkedIn >
< Back to news
Disclaimer
This press release is issued by Elevation Advisors LLP, which is authorised and regulated by the Financial Conduct Authority. The information contained herein is provided for informational purposes only and does not constitute investment advice, an offer to buy or sell any financial instrument, or a solicitation of any kind. Past performance is not a reliable indicator of future results. Any forward-looking statements or projections are based on current assumptions and subject to risks and uncertainties that may cause actual outcomes to differ materially. This communication is intended solely for professional clients and eligible counterparties as defined by the FCA. It is not directed at retail clients and should not be relied upon by any person who does not meet the criteria for professional client classification. Investments may involve significant risk, including the potential loss of capital. Recipients should seek independent financial advice before making any investment decisions. While reasonable care has been taken to ensure the accuracy of the information provided, Elevation Advisors LLP makes no representation or warranty as to its completeness or reliability and accepts no liability for any loss arising from reliance on it.
Simultaneously, the Credit Fund has completed its first transaction, extending senior and junior loans in aggregate amount of £124.7 million to prime elderly care operator MACC Care Group (“MACC”) to help MACC refinance existing indebtedness and accelerate growth of the business.
The MACC portfolio comprises over 900 predominantly en-suite wetroom beds in 13 homes across the Midlands, with high-specification builds situated in prominent locations. MACC has also developed market-leading integrated retirement living units at its latest sites, which have been developed with green travel in mind with options for electric charging points at each apartment. MACC has undergone a period of very strong growth, opening 8 homes in the last 5 years, and this financing will allow MACC to continue its trajectory in developing next generation, future-proofed real estate while maintaining its excellent standards in 24-hour comprehensive care.
All of the homes in the portfolio hold an EPC rating of A or B, which aligns with Elevation’s strategy of transitioning all homes to perform at the highest standards. MACC are committed to working collaboratively to monitor the performance of the homes to drive further change and integrate the latest environmental technologies where appropriate. In addition, the homes have a positive societal impact, delivering a high number of quality care beds reducing the level of undersupply in these areas.
Naz Nathani, CEO of MACC Group said: “It was a real pleasure dealing with very knowledgeable and focused team during the refinance. MACC was well supported and listened to and the final shape of the deal was innovative and bespoke, meeting our immediate needs but with a clear and visible pathway for the planned growth. We are confident of the significant value this will create for MACC and thanks to Elevation in achieving this with us. We are looking forward to the next few years of growth and partnership.”
Andrea Auteri, Managing Partner at Elevation said: “We are excited to begin our partnership with MACC by adding 13 modern, high-quality homes to the portfolio, as we seed and grow our Credit Fund. The senior housing sector is severely underserved; its granularity, fragmentation and high barriers to entry mean that it is hard to access the sector in scale. Elevation is pleased to accelerate the provision of fit-for-purpose accommodations by offering innovative financing to enable high quality operators to ramp up their business plans and giving large investors access in scale to the sector. Fulfilling the market need for future proof assets squarely aligns with Elevation’s ESG strategy.”
MACC is one of the leading care home operators and developers in the Midlands, as the largest provider of nursing care in Birmingham with a strong presence across the region. MACC was founded in 2004 and has grown from original acquisition of trading homes in Birmingham to development of market-leading new homes across the Midlands, having developed its 11 newest homes as 100% wetroom, purpose-built assets with the latest care technology and innovative resident-centred design. MACC’s newest developments include a specialist memory care home designed in partnership with dementia specialists Hammond Care, leading bariatric care facilities, and an innovative close care concept at 3 sites integrating care homes and senior living apartments with shared amenities and option of domiciliary care provision.
Follow us on LinkedIn >
< Back to news
Disclaimer
This press release is issued by Elevation Advisors LLP, which is authorised and regulated by the Financial Conduct Authority. The information contained herein is provided for informational purposes only and does not constitute investment advice, an offer to buy or sell any financial instrument, or a solicitation of any kind. Past performance is not a reliable indicator of future results. Any forward-looking statements or projections are based on current assumptions and subject to risks and uncertainties that may cause actual outcomes to differ materially. This communication is intended solely for professional clients and eligible counterparties as defined by the FCA. It is not directed at retail clients and should not be relied upon by any person who does not meet the criteria for professional client classification. Investments may involve significant risk, including the potential loss of capital. Recipients should seek independent financial advice before making any investment decisions. While reasonable care has been taken to ensure the accuracy of the information provided, Elevation Advisors LLP makes no representation or warranty as to its completeness or reliability and accepts no liability for any loss arising from reliance on it.
