- Elysian Residences is a privately owned UK business that specialises in the development and operation of luxury retirement communities;
- The Group has a portfolio of 11 retirement communities, either in operation, or in development, or awaiting planning permission, with a total sales value in excess of £1bn;
- Elysian Residences and Audley Group recently announced a merger in July 2025, bringing together the best practice of both market leaders and a combined sales value of over £3bn.
OakNorth, the digital bank for entrepreneurs, by entrepreneurs and structured real estate lender, REL Finance, have completed a £16m co-loan to returning customer, Elysian Residences, a leading developer and operator of luxury retirement living communities in the UK. This development loan will be helpful in enabling the company to deliver additional apartments to the market.
Founded in 2013 by CEO Gavin Stein, 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 Group’s total sales value exceeds £1bn, reflecting robust market demand and investor confidence in the luxury retirement segment.
Earlier this year, Elysian Residences and Audley Group announced a strategic merger, combining the expertise from both award-winning organisations. Together, the new entity will retain their three established brands – Elysian, Audley Villages and Mayfield Villages. The merger positions the new Group at the forefront of the UK’s premium retirement living market, poised to set new standards in quality, innovation and resident experience.
Gavin Stein, CEO at Elysian Residences, 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, continued: “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, Co-founder & Director at REL Finance, 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.”
ENDS
Notes to editors
About OakNorth
Launched in September 2015 and founded by entrepreneurs, OakNorth is a digital bank focused on serving and empowering the lower mid-market (businesses with £1m-£100m in turnover), that are seeking to scale but are routinely underserved or overlooked by traditional banks.
To date, it has provided $18bn to these businesses across a wide range of sectors, achieving performance metrics that place it amongst the top 1% of commercial banks globally. Its loans have directly contributed to the creation of 56,000 jobs, and over 34,000 new homes across the UK and the US – the majority of which are affordable and social housing. It is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.
Visit www.oaknorth.co.uk for more information.
For press inquiries, please email: [email protected]
About REL Finance
REL Finance provides tailored real estate finance solutions that empowers businesses and entrepreneurs to access flexible capital that match their property aspirations. The firm provides capital across the stack at senior, mezzanine and JV levels with ticket sizes ranging from £3m to £30m. Since inception in April 2023, REL Finance has deployed capital in excess of £100m across a variety of CRE strategies including hospitality, office, prime residential and industrial.
Visit www.relfinance.co.uk for more information.