Carlyle has acquired a UK senior housing developer Beechcroft from London-based private equity firm Alchemy for an undisclosed sum.
The US giant said in a statement that the equity for the investment came from its Europe Realty (CER) fund, a €540m pan-European real estate vehicle, closed in June last year.
Beechcroft, which owns a portfolio of homes in Greater London and south-east England, was founded more than 35 years ago.
The senior demographic is forecast to grow significantly faster than the rest of the UK population and low-care senior housing developments have proved resilient.
Carlyle said the acquisition represents a continuation of the fund’s investment strategy of focusing on properties “underpinned by demographic trends” and an opportunity to further scale and expand the Beechcroft platform “given the size and fragmentation of the senior housing market”.
Private equity has recently been increasingly active in the senior housing sector. Last week, another US-based firm, Lone Star, announced it had struck a £630m deal to buy retirement homes builder McCarthy & Stone in the UK.
Source: Private Equity News
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