The partnership will see Capreon initially invest £70m as part of a targeted pipeline of £500m.
The initial focus of the JV is to acquire sites within the South East and Midlands, with Capreon having already exchanged on the purchase of a site in the Home Counties.
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Raphael Noé, founding partner at Capreon (pictured above), said: “We are excited to embark on this JV with Revere Life.
“It is a highly experienced management team with a strong track record and it will strive to provide the highest quality of service and care for its customers.
“Not only were we impressed by the professionalism of the Revere Life team, but also that it shares our interest in generating high-quality, niche developments that incorporate buildings which are true to their location.
“To illustrate this, at the heart of our first site is a Victorian building with local history that will be retained, giving the scheme a warm and homely feel.”
Nigel Sibley, chairman at Revere Life, added: “Capreon has placed its trust in us to create best-in-class schemes in the South East and Midlands regions.
“We share the same ethos and goals around exceptional service provision and are delighted to be working with the team to bring our aspirations into fruition.”