Bridges Ventures scoops up HealthInvestor’s property award

1st June 2012

London, 1 June 2012: Sustainable growth investor Bridges Ventures was named ‘Property Investor of the Year’ at the HealthInvestor Awards 2012, during a ceremony held at London’s Grosvenor House Hotel last night.

The HealthInvestor Awards recognise organisations and individuals that have made an outstanding contribution to healthcare in 2011. Bridges Ventures was chosen as winner in the ‘Property Investor’ category for its work as creator and manager of the CarePlaces Fund, a partnership with healthcare developer Castleoak Group, which concentrates on the development and construction of first class care facilities with a focus on sustainable design and construction.

The CarePlaces Fund was launched in the summer of 2011 with the aim of providing investors with access to a pipeline of new build, high quality care home developments, pre let to established operators on long term, index-linked leases.

CarePlaces has an initial investment capacity of £80 million with equity having been provided by a range of institutional investors and pension funds. The Fund has made a very positive start with 70% of its available capital either invested or allocated to a range of care home projects with pre lets in place.

Simon Ringer, Partner and Head of Property Funds at Bridges Ventures, said: “We are delighted to have received this award which supports our approach to property investment. We like sectors where there is a long term economic requirement for the product that we create, both in terms of tenant demand and social and healthcare needs. By working with strong partners such as Castleoak, we are able to build a portfolio of high quality assets which generate returns provided by both development activity and long term income. CarePlaces gives investors exposure to an increasingly important segment of the property investment market where direct participaton is difficult owing to the shortage of available investments.”

 

For further information please contact

Hannah Randall – Capital MSL

0207 255 5177

Hannah.randall@capitalmsl.com

 

Notes to Editors

About Bridges Ventures

Bridges Ventures LLP (“Bridges Ventures”) is a sustainable growth investor established in 2002 with a mission to use its commercial expertise to achieve focused social or environmental benefit, as well as attractive returns for investors. Bridges Ventures has raised six funds to date which total almost £275m: Sustainable Growth Funds I, II and III, the Bridges Sustainable Property Fund, CarePlaces Partnership and the Bridges Social Entrepreneurs Fund.

Bridges currently have two property funds under management: Bridges Sustainable Property Fund and CarePlaces Fund. The Sustainable Property Fund is an entrepreneurial fund which invests in properties in regeneration areas and environmentally sustainable buildings. The CarePlaces Fund a partnership between Bridges Ventures and Castleoak, concentrates on building first class, pre let care facilities for the elderly with a focus on sustainable design and construction.

The Bridges Sustainable Growth Funds (I, II, III) invest in growth businesses across the four impact themes of Underserved Areas, Education & Skills, Environment and Health & Well-being. The Funds typically invest up to £10m at a time in ambitious, entrepreneurial businesses including early stage, growth capital and buyouts / buy ins. Since 2002, these Funds have made equity investments totaling over £75m in 34 businesses.