Royal London Asset Management is expanding its UK healthcare infrastructure exposure with a £35m (€40.4m) investment to forward-fund two elderly care homes.
The asset manager has committed the capital to forward-fund the purpose-built elderly care homes in the South East of England, which will provide a total of 146 beds.
Located in Coxheath and Canterbury within Kent, the assets will be developed by specialist care-home developer Aspire.
The care homes will be operated by Dunham Care, an operator backed by the McGoff Group.
Royal London Asset Management said the latest acquisitions form part of its wider healthcare strategy, which has now committed £450m to the sector.
Nick Short, fund manager at Royal London Asset Management, said: “These investments reflect our continued confidence in the long-term fundamentals of the healthcare sector.
“By investing in and partnering with experienced developers and operators to deliver high-quality, purpose-built care homes in well-chosen locations, we are supporting the provision of essential care infrastructure while generating sustainable, long-term outcomes for our investors.”
Freddie Richards, head of healthcare transactions and asset management at Royal London Asset Management, said: “The Royal London Asset Management Healthcare Fund is focused on partnering with the very best developers and operators in the market.
“It is particularly positive to be working once again with Aspire and the management team at Dunham Care, where our longstanding relationships mean we have seen firsthand their expertise and commitment to quality.”
Michael Lucas, managing director at Aspire, said: “These two developments reflect our continued focus on delivering high‑quality, purpose‑built care homes in locations where there is both a clear undersupply and long‑term need.
“Working with Royal London Asset Management and Dunham Care allows us to bring forward schemes that are designed to the highest standards, with sustainability, operational efficiency and resident wellbeing at their core.”
Chris McGoff, CEO at Dunham Care, said: “Coxheath and Canterbury will add two well‑designed, modern homes to our portfolio, enabling us to deliver high‑quality residential and dementia care in areas with growing demand.
“We look forward to operating these homes in partnership with Royal London Asset Management and Aspire LPP, creating environments that support residents, families and staff, while contributing positively to the local communities they serve.”
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