Schroder Real Estate and Octopus Real Estate have announced the second close for their closed-end private real estate fund, Retirement Living Fund (ReLF), with £140 million ($181 million) in commitments.
The fund recently added an additional £40 million ($51 million) of investment capital.
The two real estate companies are working to invest in the development of new retirement communities in the United Kingdom. The vehicle’s investment strategy leverages demographic trends and the evolving lifestyles of the baby boomer generation for the development of these properties, according to a joint statement from Schroder and Octopus.
ReLF already has invested in four new retirement communities.
“In an uncertain real estate market where value is hard to find, investors have been attracted to this mid- to high-end segment of the U.K. retirement sector which is highly undersupplied, but underpinned by undeniable structural demand drivers such as demographics,
