Share: Share on Facebook Share on Twitter Share on LinkedIn I recommend visiting to read:%0A%0A {0} %0A%0A {1}

Cushman & Wakefield Advises Revera on PGIM Real Estate Senior Housing Joint Venture


Cushman & Wakefield’s Senior Living team has advised Signature Senior Lifestyle, a subsidiary of senior living sector owner, operator and developer, Revera Inc. on the creation of a new joint venture with PGIM Real Estate.
The newly formed joint venture will develop a portfolio of prime senior housing in and around Greater London and the South East.

The venture has committed to its first investment, a prime care home in South West London. PGIM Real Estate worked with asset manager and investor Elevation Advisors in sourcing, structuring and executing the joint venture.

Caryn Donahue, head of senior living at Cushman & Wakefield said: “We are pleased to have been advisors on this significant transaction for the sector. Acting for Revera, a market leader in seniors housing globally and Signature Senior Lifestyle, a best in class operator, the partnership with PGIM Real Estate demonstrates a commitment to the growth of the seniors’ market in the UK. This particular JV, driven by experienced investors and a highly successful operator supports the vast lack of supply for fit for purpose housing for seniors in Greater London.”

Tom Ball, chief financial officer of Signature, said: “We are extremely pleased to enter into this joint venture, supporting the further development and growth of the Signature Group. We continue to identify, develop and operate best-in-class operations, growing our management platform, and welcome the support of our partners in achieving this goal.”

Tom Wellner, president and chief executive of Revera Inc., added: “As a global leader in senior housing, Revera is excited to invest alongside PGIM Real Estate and to share our expertise to support the growth of our award-winning Signature brand. Signature, with its experienced management team, is a valuable asset within the Revera portfolio.”

Charles Crowe, head of UK transactions at PGIM Real Estate said: “Long-term demographic trends in the UK are strongly favourable for senior housing development, with growing demand from the rising elderly population set against a backdrop of static – and sometimes even falling – supply. 

“This dynamic is particularly evident in and around Greater London, where there are unprecedented levels of population density and affluence combined with a demand/supply imbalance. PGIM Real Estate’s long-standing track record of investing in senior housing in the US and the UK showcases our deep understanding of this sector. We are excited to enter into this new venture.”



Richard Coleman, Head of Communications EMEA
Richard Coleman

Head of EMEA Communications • London

What's new

European Grade A Office Availability Ratio Declines As Occupiers Focus On Best in Class Space
Cushman & Wakefield’s UK Residential Team Hires Emily Fox As A Partner

Commercial real estate services firm, Cushman & Wakefield, has appointed Emily Fox as a Partner to lead its Residential Valuation & Advisory team in the Midlands.


Housing Drone View
Coventry University Sells 627-Bed First Generation Halls of Residence To Frogmore

Advised by Cushman & Wakefield, Coventry University has sold a 627-bed first-generation halls of residence with significant asset management opportunities for an undisclosed sum to Frogmore.


Cushman & Wakefield Expands UK Research & Insight Team

Cushman & Wakefield has appointed Kiran Patel as an Associate Director within its UK Research & Insight team, focusing on the offices sector.


With your permission we and our partners would like to use cookies in order to access and record information and process personal data, such as unique identifiers and standard information sent by a device to ensure our website performs as expected, to develop and improve our products, and for advertising and insight purposes.

Alternatively click on More Options and select your preferences before providing or refusing consent. Some processing of your personal data may not require your consent, but you have a right to object to such processing.

You can change your preferences at any time by returning to this site or clicking on Cookies.
Agree and Close
These cookies ensure that our website performs as expected,for example website traffic load is balanced across our servers to prevent our website from crashing during particularly high usage.
These cookies allow our website to remember choices you make (such as your user name, language or the region you are in) and provide enhanced features. These cookies do not gather any information about you that could be used for advertising or remember where you have been on the internet.
These cookies allow us to work with our marketing partners to understand which ads or links you have clicked on before arriving on our website or to help us make our advertising more relevant to you.
Agree All
Reject All