Global leader in real estate portfolio management and investment, AXA, has announced that it has now completed the acquisition of Retirement Villages Group Ltd (RVG).
The acquisition of RVG provides AXA with ownership, on behalf of its clients, of the company’s portfolio of 14 retirement village properties, comprising a total of 1,274 purpose-built independent living units and 402 care beds.
Working with a developer AXA is looking to expand its property portfolio with a number of new village sites in the pipeline.
The established RVG brand will be retained and operated autonomously to continue its smooth operation, while the care element of the portfolio will be operated by HC-One Ltd.
AXA’s investment into the UK senior housing sector follows healthcare investments in Germany and in Finland, where it has acquired 45 nursing homes and rehabilitation properties on behalf of clients since December 2016.
Andrew Ovey, head of healthcare at AXA, commented: “Having built up a deep understanding of the intricacies of healthcare real estate, we are very pleased to be able to add this significant UK holding to our European healthcare portfolio. RVG has proven its leadership in the sector and has secured a pipeline of extensions and new sites that offer significant scope for further penetration of an undersupplied market providing long-term stable cash flows, for the benefit of clients.”