- The two schemes are The Denton in Berkhamsted and The Beckett in Tunbridge Wells, and are part of a joint venture with Octopus Capital & Schroders Capital’s UK Retirement Living Fund;
- The developments offer a combined 192 units, premium amenities, and strong transport links to London;
- 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.
Wednesday 29th October 2025, London, UK: OakNorth – the digital bank for entrepreneurs, by entrepreneurs – has provided an £87.6m property investment facility to Elysian Residences, the specialist retirement living developer and operator, to refinance two of its recently completed schemes – The Denton in Berkhamsted and The Beckett in Tunbridge Wells. These schemes are part of a joint venture between Elysian and Octopus Capital & Schroders Capital’s UK Retirement living Fund, which focuses on acquiring and developing high‑quality retirement living schemes across the UK.
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 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.
Elysian Residences is a UK-based developer and operator of luxury retirement communities, offering a lifestyle combining high-end amenities with discreet, flexible care when required. Founded in 2013 by Gavin Stein, its portfolio includes 11 communities – either operational, in planning, or under development – with approximately 1,000 units and a total sales value exceeding £1bn. The business emphasises architectural quality, the wellbeing of homeowners, and a concierge-style offering to deliver retirement living typically found in premium global markets.
Gavin Stein, CEO of Elysian Residences, commented: “OakNorth is a lender that genuinely understands the needs of specialist residential developers. The team bring speed, certainty, and flexibility, which are critical in transitional real estate. Having worked together on several previous transactions, we value the OakNorth team’s proactive 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, continued: “Elysian is delivering exceptional retirement living schemes that cater to an underserved but rapidly growing demographic. Their commitment to architectural quality, lifestyle experience, and care integration makes them stand out in this sector. We’ve 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.”
Domas Karsokas, Investment Director at Octopus Capital, said: “We are delighted to be working with OakNorth again to support the high-quality developments delivered by Elysian Residences. Their strong understanding of the sector, combined with a fast and flexible approach, makes them a trusted and effective partner.”
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 58,000 jobs, and over 36,000 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.
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