Cain International loans £56m to high-end later living scheme
Cain International has provided a £56m loan to fund a later living project in Stanmore, north west London, being developed by Elysian Residences.
Known as the Landsby, the 101-home, high-end later living project is expected to complete towards the end of 2019. It is being built by Henry Construction.
Elysian Residences will operate the project in joint venture with One Eighty International upon completion.
Cain International has provided a £56m loan to fund a later living project in Stanmore, north west London, being developed by Elysian Residences.
Known as the Landsby, the 101-home, high-end later living project is expected to complete towards the end of 2019. It is being built by Henry Construction.
Elysian Residences will operate the project in joint venture with One Eighty International upon completion.
One Eighty is one of the world’s largest retirement living operators, with around 6,500 units across the US, Canada, Mexico and India, and 40 years’ experience.
Graham Keable, principal at Cain International, said: “Partnering with Elysian Residences reflects Cain International’s philosophy of working alongside strong partners that are providing a sound solution to address market demand.
“With nearly 12 million people in the UK over 65 today, and an expectation for that number to grow by 20% over the next decade, we are proud to support Elysian as they deliver their vision of high-quality later living homes.”
Gavin Stein, chief executive of Elysian Residences, added: “We appreciate Cain International’s support, as we look forward to the Landsby completing later this year.
“The Landsby will meet growing demand from an increasingly significant group of people seeking attractive and flexible living spaces which cater to their changing needs, without compromising on design and quality.”
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