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Octopus Healthcare merges with Octopus Property

Octopus Group today announced the merging of its two business Octopus Healthcare and Octopus Property to form Octopus Real Estate with more than £2 billion of funds under management.

Octopus Real Estate will be led by Benjamin Davis (pictured), currently chief executive of Octopus Healthcare.

The merger brings together Octopus Healthcare, which invests in, develops and manages care homes and retirement communities with almost £1 billion under management, and Octopus Property, a property lender specialising in the residential, commercial and development sectors that has provided more than £3.6 billion of financing since it was established in 2009.

Davis said: “Consolidating our investment and development expertise into Octopus Real Estate puts us in an even stronger position as we continue our expansion in the real estate sector. I look forward to delivering on our commitments to our existing customers and investors, developing and investing in new properties and healthcare facilities across the UK to provide people with the homes they need.”

Octopus’s current real estate product range and fund offers will not be affected by the merger.

Mario Berti, chief executive of Octopus Property, will leave Octopus. He said: “After nine years at Octopus … I feel now is a good time to move on and look for a new opportunity. I am immensely proud of everything we have achieved at Octopus over the years and will follow Octopus’s progress keenly. It’s been an absolute privilege to have worked with so many talented people and I wish my colleagues all the very best. Octopus Real Estate has an exciting growth opportunity ahead of it and I am confident the business, along with the wider Octopus Group, will continue to go from strength to strength.”

Simon Rogerson, co-founder and chief executive of Octopus Group, stated: “I’d like to take this opportunity to thank Mario for all his support and hard work over the years. He has played an integral role in Octopus’s growth and expansion over the last decade and we are hugely grateful to him for the tremendous contribution he has made. We wish him every success for the future.”

Posted on: 08/05/2019

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