PGIM Real Estate is acquiring the real estate and operations of Signature Senior Lifestyle (“Signature”), a best-in-class owner, developer and operator of senior housing in the UK, subject to finalization. The acquisition was made on behalf of PGIM Real Estate’s European value-add strategy, in partnership with Elevation Advisors LLP (“Elevation”) to source, structure and execute the transaction and asset manage the portfolio. The transaction is expected to close by the end of H1 2024.
PGIM Real Estate is the US$210 billion real estate investment business of PGIM and the third-largest real estate firm globally. Elevation is a specialist investment manager in the European healthcare real estate sector with approximately £2 billion of assets under management.
Source: press release sent 18 June 2024