Heitman and Signature Senior Lifestyle have announced a £75m joint venture to develop care homes in and around London.
The project is real estate firm Heitman’s first property investment in the UK.
The £75m will be used to develop three care home villages in the South East, which Signature will operate.
A site in Marlow, Buckinghamshire is the first acquisition. Construction work will begin in Q3 2012.
Each care village will comprise between 75 and 95 flats.
Gordon Black, senior managing director of Heitman in Europe, said: “As one of the more defensive real estate asset classes, senior care communities are an appealing property sector with which Heitman is very familiar and in which we have successfully invested in the past.”
joanna.bourke@estatesgazette.com
