In its first seniors housing acquisition since 2022, according to publicly disclosed deals in LevinPro LTC, PGIM Real Estate is acquiring the real estate and operations of Signature Senior Lifestyle, an owner/operator/developer of seniors housing in the United Kingdom, subject to finalization. The acquisition was made on behalf of PGIM’s European value-add strategy, in partnership with Elevation Advisors LLP to source, structure and execute the transaction and asset manage the portfolio. The transaction is expected to close by the end of H1 2024.
The Signature portfolio consists of 13 senior living communities, comprising 10 operating properties and three consented development projects in and around Greater London. Plans are underway to begin construction on the three new developments later this year. Signature’s management team will continue to operate the homes. Perhaps PGIM is ready to jump back in the U.S. seniors housing M&A market now?
