Capreon and Revere Life team up for senior living schemes
Noé Group’s real estate investment and advisory arm Capreon has formed a joint venture with Revere Life to develop senior living in the Southeast of England and Midlands, Property Funds World has reported.
Capreon will invest in the real estate and the operations and has exchanged on the purchase of a site in the Home Counties and will initially invest £70 million as part of a pipeline of £500 million.
Capreon’s founding partner Raphael Noé 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 Southeast 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.”
Date published: October 19, 2021