Digital bank, OakNorth, has provided a £87.6m facility to Elysian Residences to support two luxury retirement living developments.

The two schemes are The Denton in Berkhamsted and The Beckett in Tunbridge Wells and are part of a joint venture with Octopus Capital and Schroders Capital’s UK Retirement Living Fund, which focuses on acquiring and developing high‑quality retirement living schemes across the UK.

The developments offer a combined 192 units, premium amenities, and strong transport links to London.

And the deal strengthens a long-standing relationship between OakNorth and Elysian, reflecting shared values around innovation in housing, long-term partnerships, and high-quality, purpose-built residential assets.

The Denton development comprises 103 units and The Beckett comprises 89 units, both offering luxurious, purpose-built retirement living in affluent commuter towns.

Both developments also have high-quality amenities such as gyms, libraries, bars, restaurants, communal gardens, and 24-hour care provision, with private parking and strong transport links to London.

Founded in 2013 by Gavin Stein, Elysian Residences’ portfolio includes 11 communities, either operational, in planning, or under development, with approximately 1,000 units and a total sales value exceeding £1bn.

Stein said: “OakNorth is a lender that genuinely understands the needs of specialist residential developers.

“The team brings speed, certainty, and flexibility, which are critical in transitional real estate.

“Having worked together on several previous transactions, we value the OakNorth team’s pro-active approach and deep knowledge of our sector.

“Their support will allow us to maximise value from these two outstanding developments.”

Deepesh Thakrar, managing director of debt finance at OakNorth, added: “Elysian is delivering exceptional retirement living schemes that cater to an underserved, but rapidly-growing, demographic.

“Its commitment to architectural quality, lifestyle experience, and care integration makes them stand out in this sector.

“We have built a trusted relationship over multiple transactions and it’s a privilege to support the refinancing of these two outstanding developments alongside such a strong equity partner in Octopus Capital & Schroders Capital.”