DLA Piper advises PGIM Real Estate on Signature Senior Lifestyle acquisition

DLA Piper has advised PGIM Real Estate on the acquisition of the real estate and operations of Signature Senior Lifestyle (Signature), one of the UK's leading owners, developers and operators of senior housing. The deal is made in partnership with Elevation Advisors LLP which will source, structure and execute the transaction and asset manage the portfolio.

Signature's portfolio comprises of 13 senior living communities that include 10 operating properties and three consented development projects, all located in and around Greater London. Signature’s established management team will continue to focus on ensuring it is future-proofed through the integration of cutting-edge technologies and standards with the portfolio continuing to achieve and target a BREEAM New Construction rating of "Excellent" or "Very Good".

PGIM Real Estate is one of the largest real estate firms globally and has USD206 billion in gross assets under management and administration, providing investors and borrowers access to a range of real estate equity, debt, agriculture and impact solutions across the risk-return spectrum.

A multi-practice team from DLA Piper's London office worked on the transaction and was led by partners William Naunton and Alanna Hasek (Real Estate), Jon Kenworthy and Laura Marcelli (Corporate), and Lewis Gaut (Finance). They were supported by legal director Jonathan Whiteford, and Associates Dhaksha Giga, Clement Bourdon (Luxembourg) and Jake Manton (Corporate).

Alanna Hasek, Real Estate partner at DLA Piper, commented: “The acquisition of Signature represents a landmark transaction in the UK senior living sector and one that will bolster PGIM’s European value-add portfolio. We advise on some of the largest and most complex deals in the market and this experience helped us achieve such a successful outcome for our client.”