OakNorth has provided an £87.6m property investment facility to Elysian Residences to refinance two luxury retirement developments: The Denton in Berkhamsted and The Beckett in Tunbridge Wells.
Both schemes are part of a joint venture with Octopus Capital and Schroders Capital’s UK Retirement Living Fund, which focuses on acquiring and developing retirement schemes across the UK.
The Denton has 103 units and The Beckett has 89 units.
Both offer high-end retirement living in commuter towns, with amenities including gyms, libraries, bars, restaurants, communal gardens, and 24-hour care.
Private parking and strong transport links to London are also provided.
Gavin Stein, CEO at Elysian Residences, said: “OakNorth is a lender that genuinely understands the needs of specialist residential developers.
“The team bring speed, certainty, and flexibility, which are critical in transitional real estate.
“Having worked together on several previous transactions, we value the OakNorth team’s proactive approach and deep knowledge of our sector.”
Stein added: “Their support will allow us to maximise value from these two outstanding developments.”
Deepesh Thakrar, managing director of debt finance at OakNorth, said: “Elysian is delivering exceptional retirement living schemes that cater to an underserved but rapidly growing demographic.
“Their commitment to architectural quality, lifestyle experience, and care integration makes them stand out in this sector.
“We’ve built a trusted relationship over multiple transactions, and it’s a privilege to support the refinancing of these two outstanding developments alongside such a strong equity partner in Octopus Capital & Schroders Capital.”
Domas Karsokas, investment director at Octopus Capital, said: “We are delighted to be working with OakNorth again to support the high-quality developments delivered by Elysian Residences.
“Their strong understanding of the sector, combined with a fast and flexible approach, makes them a trusted and effective partner.”
