New York investor launches £500m UK senior living plan
New York-based private equity investor Meadow Partners has joined forces with senior living shared ownership provider Affordable Housing & Healthcare Group to build a £500m portfolio.
Advised by Knight Frank, Meadow has bought a portfolio of six existing schemes, totalling 550 flats across the South West of England, and will seek to fund an initial pipeline of an additional 500 homes as part of the partnership.
The combined value of the existing assets and future pipeline is around £500m, said Meadow.
New York-based private equity investor Meadow Partners has joined forces with senior living shared ownership provider Affordable Housing & Healthcare Group to build a £500m portfolio.
Advised by Knight Frank, Meadow has bought a portfolio of six existing schemes, totalling 550 flats across the South West of England, and will seek to fund an initial pipeline of an additional 500 homes as part of the partnership.
The combined value of the existing assets and future pipeline is around £500m, said Meadow.
AHH originates, delivers, manages and operates affordable shared ownership communities as a registered provider. Its model typically involves selling 50% of each retirement living flat at practical completion, with homeowners renting the remaining share. Meadow said this structure created long-term rental cash flows that grow annually with inflation.
J Andrew McDaniel, founding partner of Meadow, said: “Meadow has long observed the UK senior living residential market and we are pleased to have identified AHH as our first investment. AHH has developed a high-quality, recently constructed product with an attractive ownership model.
“We believe the current and future portfolio will benefit from the demographic trends of the UK’s aging population and growing demand for specialised housing options. We look forward to growing the portfolio together.”
Tom Scaife, head of seniors housing at Knight Frank, added: “This partnership between AHH and Meadow Partners marks a significant step forward in addressing the growing demand for affordable retirement living options in the UK. The shared ownership model offers an innovative solution for older adults seeking to downsize while maintaining a stake in property ownership.”
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