Capreon and Revere Life join to deliver senior living schemes
As part of this partnership, Capreon will invest in the real estate and the operations, highlighting its commitment to build a platform that is sustainable in the long term and focused on service delivery. The firm has exchanged on the purchase of a site in the home counties and will initially invest £70 million as part of a targeted pipeline of £500 million.
Capreon’s research shows that the UK’s housing shortage has had a significant impact on older people – in particular, their ability to downsize into appropriate housing. When retiring, people want to be close to their family roots without having to compromise on the quality of environment or proximity to the towns and villages that they know and love.
The initial target is to acquire sites within the home counties and Midlands, with Capreon acknowledging that there is a pressing need for suitable accommodation in these areas.
Raphael Noé, founding partner at Capreon, said: “We are excited to embark on this joint venture with Revere Life. They are a highly experienced management team with a strong track record. They will strive to provide the highest quality of service and care for their customers. Not only were we impressed by the professionalism of the Revere Life team, but also that they share our interest in generating high-quality, niche developments that incorporate buildings that are true to their location.
“To illustrate this, at the heart of our first site is a Victorian building with local history that will be retained, giving the scheme a warm and homely feel.”
Nigel Sibley, chairman at Revere Life, added: “Capreon has placed their trust in us to create best-in-class schemes in the South East and Midlands regions. We share the same ethos and goals around exceptional service provision and are delighted to be working with the team to bring our aspirations into fruition.”
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About Capreon: Capreon is the real estate investment and advisory arm of the Noé Group. The firm has more than £2bn in assets under management, including retail, office space and warehousing. Capreon is based in London but operates throughout Europe and Israel. The business has local knowledge but a global outlook and is not bound by an institutional mindset. This allows it to be flexible in its approach and enhance capital returns. Capreon has over 40 years’ combined experience and is passionate about a partnership approach to real estate. The business embraces collaboration at all levels and geographies to create value for all its partners. Capreon’s robust and sophisticated real estate investment model combines market analysis, stock selection, intelligent financing and intensive asset management.
For further information, please visit: https://www.capreon.com/
About the Noé Group: The Noé Group is an innovative family office providing investment management and advisory services in real estate and PropTech. Founded in 2017 by Zvi Noé, Raphael Noé, David Bloom and Leo Noé, one of the property industry’s most prominent executives, the Noé Group is built on more than 40 years of successful family office investment.
The Noé Group operates throughout the UK, Europe and Israel through its principal businesses, Capreon and Goldacre.
For further information, please visit: http://noegroup.co.uk/
About Revere Life: Revere Life has been established to develop and operate retirement villages targeted to meet the aspirations and needs of those in later retirement. Owners will buy long leases and enjoy a wide range of onsite hospitality and care services at affordable prices in return for a deferred fee. The Revere Life team has a deep understanding of and track record in this market, led by chief executive Adrian Prest, CFO Tim Lovell and under the chairmanship of Nigel Sibley.