Care home operator, Allegra Care, and UK specialist real estate fund manager, Moorfield Group, have acquired two nursing, dementia and care homes in Cambridgeshire and Suffolk from Alysia Caring.
Cherry Blossom, an 80-bed home in Peterborough, Cambridgeshire, and 53-bed Magdalen House in Hadleigh, Suffolk, (pictured) are modern, fit-for purpose homes with 100% of the beds having accessible wet room en-suites.
The acquisition is the latest for the joint venture aimed at creating an initial £125 million portfolio of modern, fit-for-purpose nursing, dementia and care homes across the UK. The partnership now owns seven homes across Hampshire, Cambridge and Suffolk.
Charles Ferguson Davie, Chief Investment Officer of Moorfield, said: “The acquisition of these two high-quality homes reflects the partnership’s ongoing intention to expand its ownership of homes in this region of the UK.
“The local demographics are supportive of the demand for high quality nursing, dementia and care homes and our partnership with Allegra Care is intended to take advantage of our combined investment and operational expertise to provide exceptional levels of care to the residents.”
Helen Jones, Chief Executive Officer of Allegra, added: “We are very pleased to confirm the addition of Cherry Blossom and Magdalen House to our portfolio. Both are modern, attractive, warm homes with good reputations and strong standards of service. We welcome our new colleagues to the Allegra Care team. We thank our due diligence partners for their efforts. The acquisition was a tremendous end to 2021 for Allegra Care.”
The acquisition was supported by Allied Irish Bank. Allegra Care and Moorfield were advised by Cushman & Wakefield, CBRE, BCLP & Menzies. The seller was advised by Freeths and Freemans. Halo Care acted as the selling agent.
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