Healthcare real estate investment management firm Elevation Advisors has completed the initial closing of £330m in equity commitments for Elevation Healthcare Properties (EHP), its open-ended healthcare real estate investment vehicle in prime elderly-care real estate in the U.K.
The initial equity commitments were used to seed the vehicle with over £400 million of care home properties and will provide equity for additional acquisitions.
EHP intends to acquire and develop best-in-class elderly care homes in the UK.
Andrea Auteri, Managing Partner at Elevation said: “We are excited to complete this fundraising and move our well-established EHP vehicle into its next phase of growth. EHP seeks to address the structural undersupply of high-quality elderly care beds in the U.K. to deliver positive social impact through the provision of modern, high-quality care environments. These facilities are a vital part of the healthcare infrastructure fabric of the country and are designed to meet increasing environmental standards. This fundraising is testament to the successful alignment of Elevation with its investors and stakeholders, supporting both sustainable returns and the provision of high-quality elderly care.”