HEALTHCARE

Healthcare is a large component of our current focus. We have set up a joint venture partnership with the Moorfield Group to create a dedicated and diversified healthcare real estate investment platform. With financial backing from both Moorfield and other institutions, we can acquire direct real estate or special purpose vehicles that own the real estate and, given our structure, we can acquire those special purpose vehicles with latent capital gain representing a significant pricing advantage for certain sellers with low base cost real estate.

Due to the demographics of the UK and the shift in some public healthcare services from centrally funded providers to the private sectors, healthcare is one of a limited number of real estate sectors that has demonstrated, and will likely continue to demonstrate, inherent growth. Currently, there are approximately 10m people in the UK over the age of 65, this number is estimated to grow to 15m by 2030. Our aim is to become the property partner of strong operators, driving their growth. We seek sale and leaseback opportunities and forward funding development models with operators to grow the healthcare platform. Both structures fit well with our platform to provide diversified income streams and a small proportion of development profits.