25 May 2021 | by Jessica Middleton-Pugh
Target has 28 care home operators renting across its portfolio of purpose-built homes
The care home investor's chief executive on delivering long-term stable income and building communities
“We’re not trying to be incredibly exciting, we’re trying to use our deep knowledge, as a sector specialist, to create long stable income.”
Kenneth MacKenzie’s words may not catch the eye of all real estate investors, but as co-founder and chief executive of Target Healthcare REIT, his approach should reassure his investors and tenants alike.
With a trail of over-subscribed fundraises since Target was first established, and a market value of more than £600m, clearly the care home investor’s approach has inspired a raft of backers looking for more than yields.
And as MacKenzie points out, the number of over-85s in the UK is forecast to double in the next 20 years. And with one in 7.5 of them requiring residential care, experience and speed of delivery is needed in the market now more than ever.
React News spoke to MacKenzie on delivering stable returns, challenges still facing the care home sector, and why details such as wet rooms may be more important than you think.