Henley’s US business has expanded its portfolio with the acquisition of a 779-acre site in Gettysburg, Pennsylvania to develop a $400M (€345.7m) home community.
Henley USA, through its residential land development partnership Henley Corbelis, has bought the site to develop a 2,000-home community targeted at the over 55-years active adults.
The deal marks Henley Corbelis’ first venture into age-appropriate retirement living.
The development, which will be branded as Amblebrook, will including both single-family attached and detached options, along with resort-style recreational facilities that will be designed and programmed to foster a healthy lifestyle.
The private equity real estate firm said approvals are in place for the overall subdivision site plan.
Ian Rickwood, the chief executive officer of Henley Investments, said: “This purchase demonstrates Henley’s growing appetite and presence in both the conventional and alternative residential spheres on both sides of the Atlantic.
Henley USA invested over $130m in the multi-family sector in 2017, whilst in the UK, Henley Camland recently purchased the Eastern Quarry site at Ebbsfleet Garden City for £66.8m, with plans in place for 2,900 homes.
Garrett Solomon, the president of Henley USA, said: “Corbelis has an established, award-winning track record of developing innovative living environments for residents. Through our partnership with Henley, Amblebrook will be no different.”