Barchester buys £165m care homes from Terra Firma

Barchester Healthcare has purchased 24 Brighterkind care homes from Terra Firma, the private equity giant set up by Guy Hands. The portfolio, sold for around £165m, comprises 17 freehold and seven leasehold properties with comprises 1,570 beds. Of these, 60% were private pay. This same group of properties was at the centre of a legal dispute between Terra Firma and US hedge fund H/2 Capital over their ownership last year, which Terra Firma won. A spokesperson for Brighterkind said: “The operational transition will be completed in the new year, and until then the homes will continue to be operated by brighterkind. We will work with Barchester Healthcare to ensure a smooth transition.” Knight Frank advised Terra Firma on the sale. The agent previously advised Avery Healthcare on the initial portfolio sale to the private equity firm in 2013. Knight Frank declined to comment. To send feedback, e-mail pui-guan.man@egi.co.uk or tweet @PuiGuanM or @estatesgazette