Marstead plans London retirement village secured by Federated Hermes loan

UK retirement living specialist Marstead Living has secured a loan from Federated Hermes Private Credit to fund the acquisition of a London site for a new £260m (€301.2m) retirement village.

Federated Hermes is funding Marstead’s acquisition of an 18-acre site in Mill Hill to create the 175-home Marstead Mill retirement village.  

Construction is set to commence before the end of the year, with full completion expected in 2027. 

Vincent Nobel, head of asset-based Lending at Federated Hermes, said: “We are pleased to provide debt funding to Marstead Living for their landmark UK retirement community.

“This funding reflects our belief in the strength of their vision and the viability of Marstead Mill as a premier retirement community.”

Mark Alper, founder and CEO at Marstead Living, said: “We are delighted by the support and confidence shown by Federated Hermes. This milestone represents a significant step forward for Marstead Living and underscores our unwavering commitment to redefining retirement living in the UK.

“With this financing provided by Federated Hermes Private Credit, we can progress our vision for Marstead Mill and set new benchmarks for excellence in the sector. We are excited to embark on this journey, knowing that our innovative approach and dedication to quality will transform the way people experience integrated retirement communities.”

To read the latest IPE Real Assets magazine click here.