A joint venture between the Topland Group (‘Topland’) and Henley Healthcare Investments (‘Henley’) part of the Henley private equity group, have concluded the sale of a £50 million portfolio of supported living assets to specialist infrastructure project investor and fund manager Equitix.
Collaborating with Local Authorities and care operators to identify specific housing requirements for people in need of supported living accommodation, the UK-wide portfolio has been aggregated by Henley since 2014, via a JV vehicle with LP investor Topland. Underpinned by Housing Association leases, the assets were managed and adapted on an individual basis in order to make accommodation suitable for the specific needs of tenants.
Portfolio sales in this sector have been generating yields of 5.5% to 6.5% per cent. Both Topland and Henley will re-deploy capital from its disposal back into the supported living sector, with Topland having set aside £300 million, for further investment.
Commenting on the sale, Topland’s Executive Chairman & CEO Sol Zakay said:
“We are very enthusiastic about this new emerging sector and have committed significant resources to grow the business. Topland has always supported scalable businesses and backed emerging talent.”
Ian Rickwood, Chief Executive Officer of Henley, adds:
“We have achieved another highly successful disposal maintaining our outstanding Henley-wide deal returns. With increasing demand for supported living assets as a result of changing demographics and healthcare cuts, we will continue to invest in the sector, providing further vital, high quality accommodation to those most in need. We will also look to expand our exposure to the healthcare sector generally”
CBRE acted for Topland and Henley, and Knight Frank for Equitix.
Established in 2006, Henley is a leading UK private equity real estate investor focusing on development, investment and asset management in the commercial, residential, healthcare debt and alternative real estate market. Since inception Henley has approximately doubled in size every year and is expected to do the same again in 2016. The company currently has around $1.25 billion assets under management (as of end of 2015).
Henley’s platform has nine separate divisions, all headed by an experienced entrepreneurial partner; including Henley Space, a prime London residential development, HCRE, an opportunistic commercial investment, Henley Healthcare Investments, HPF (Henley Property Finance) a debt focused business, Henley 360 a European light industrial vehicle, Henley Camland a land infrastructure business and Henley USA looking at new ventures including Waterwalk apartments. In addition, Henley is acting for a number of international family offices through its HFOA (Family Office Advisors) business, launched in February 2014. Henley is an entrepreneurial company that continues to back entrepreneurs.
For further information please contact:
Henley, Ian Rickwood CEO – 07717 134207
Redwood Consulting, PJ Appleton – 020 7828 5553
Redwood Consulting, Clare Hartshorne – 020 7828 5553
15 April 2016 | Press Release by Redwood Consulting