Henley clinches €77m assisted living deal for new SIPUT fund

By August 9, 2017 August 22nd, 2017 Henley FM - SIPUT Core fund, Property EU
Henley Healthcare Supported Social Housing - SIPUT

UK private equity firm Henley has acquired a portfolio of assisted living homes for £70 m (€77.3 m) for its new Henley SIPUT fund which held its first close in July.

The portfolio comprises 49 properties located across the UK all let on long-term, CPI-linked leases. Henley said the properties were all sourced off-market and are immediately income-generating.

Henley SIPUT ( Secure Income Property Trust) is seeking to raise £400m (€442 m) within the next six months. It will focus on the fast-growing supported housing sector, targeting residential investments across the UK for the provision of long-term homes for vulnerable adults. It will focus in particular on assets that have undergone development upgrades tailored to meet the specific care requirements of tenants.

The fund aims to deliver returns of over 5% per annum during the 25-year life of the fund.

Commenting on Henley’s first fund, Ian Rickwood, CEO OF Henley Investments, said:

“The launch of Henley SIPUT marks Henley’s first fully-discretionary fund and I’m pleased to announce the completion of our first deal through the fund utilising Henley’s significant expertise.

With growing demand in the supported living sector, there is a significant need and market opportunity, matched with increasing institutional interest in the space. We offer these institutional investors access to long-term inflation linked secure and sustainable returns, as well as providing much needed homes for vulnerable adults, making a positive difference to people and communities,”

Henley has a long track record in the supported living sector, having worked with local authorities and theNational Health Service (NHS) since 2012 to identify sector requirements and commission supported housing schemes. Over the past four years, the firm has carried out a number of transactions through its Henley Healthcare platform totalling around £250 m (€276 m).

Established in 2006, Henley focuses on development, investment and asset management in the commercial, residential healthcare and alternative real estate markets. The company currently has around $1.5bn (€1.3 bn) in assets under management (as of mid-2017).

9th August 2017 | Article by PropertyEU

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