Private equity real estate investor Henley has started 2018 with significant sales activity totalling €101.9m (£90m) across three of its platforms – student, supported housing and residential.
Henley remains active in the student residential sector, most recently with the sale of two properties in Salford, Greater Manchester and Dundee, Scotland for a combined total of over €35.1m (£31m). Purchased in 2016 as part of a two-asset deal in excess of €20.4m (£18m), the sale of the 345-bed property in Salford and the 413-bed property in Dundee builds on Henley’s strong track-record in the sector.
In addition, Henley Healthcare Investments has recently concluded the sale of a €45.3m (£40m) supported housing portfolio to a listed REIT. Through collaborating with Local Authorities and care operators to identify specific housing requirements for people in need of supported living accommodation, and underpinned by Housing Association leases, the portfolio consists of individually managed supported-living assets. Capital from this sale will continue to be re-deployed back into the sector.
Rounding off Henley’s January activity, Henley Space, the residential arm of Henley has sold €22.6m (£20m) of assets in Kensington, London.
Ian Rickwood, CEO of Henley, comments: “These sales mark the end of a very successful 2017 for Henley as we turn our attention to the new deal flow in 2018. Our focus in Europe will continue on needs-based housing whether that be Supported Housing, Student Housing, Local authority Social Housing or masterplan developments of serviced land to national homebuilders for affordable housing. We will continue to look for opportunistic deals across Europe albeit these are much harder to come by, and we will provide our investors with more fixed income structured deals. Meanwhile, our Core fund SIPUT continues to make purchases and draw significant investor interest”.