Elysian Residences secures £16m development loan

Founded in 2013, Elysian Residences specialises in the creation and management of high-end retirement communities, with a portfolio comprising 11 developments either in operation, under planning, or actively under construction.

The new loan will enable enabling Elysian to deliver additional apartments to the market.

Elysian Residences CEO Gavin Stein said: “We are pleased to work with REL Finance, and to work with OakNorth on this facility, which will enable additional apartments to reach an area where high-quality senior living is under-supplied.  Our plans continue to be supported ultimately by our customers, where we see many areas which do not have the supply of senior living communities which offer a choice of high-quality accommodation, with exceptional amenities.”

Deepesh Thakrar, managing director of debt finance at OakNorth, commented: “We are delighted to once again support Elysian, a long-standing OakNorth customer, as they continue to deliver exceptional retirement living communities across the UK. This transaction underlines our commitment to backing experienced operators with strong track records and ambitious growth plans. With the recent merger with Audley Group further enhancing its market position, we look forward to seeing Elysian continue to set new benchmarks in quality and innovation for the sector.”

Tashin Morjaria, REL Finance co-founder & director, added: “This transaction marks REL Finance’s first facility within the retirement living sector, and we are delighted to support Elysian Residences – a company recognised as a best-in-class operator and developer within the space. Their meticulous approach to design and dedication to resident wellbeing make them an ideal partner, aligning with REL Finance’s core values and growth aspirations. Furthermore, this loan underscores our growing collaboration with OakNorth, reflecting our shared commitment to dynamic, market-responsive funding solutions for the UK real estate sector.”