Elevation Advisors has raised £330m in equity commitments for Elevation Healthcare Properties, its open-ended healthcare real estate investment vehicle in elderly care real estate in the UK.
The initial equity commitments have been used to seed the vehicle with more than £400m of care home properties and will provide equity for additional acquisitions.
EHP’s portfolio totals 26 care homes, providing more than 1,800 beds.
The firm said capital raised would be used to acquire and develop new properties on a prelet, forward-funded basis. All properties will be let on inflation-linked long-term leases to national and regional operators.
Elevation managing partner Andrea Auteri said: “EHP seeks to address the structural undersupply of high quality elderly care beds in the UK to deliver positive social impact through the provision of modern, high quality care environments.
“These facilities are a vital part of the healthcare infrastructure fabric of the country and are designed to meet increasing environmental standards. This fundraising is testament to the successful alignment of Elevation with its investors and stakeholders, supporting both sustainable returns and the provision of high quality elderly care.”
Threadmark Partners advised on the fundraising.
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