Portfolio of Berkley Care homes changes hands in £207m deal
A healthcare real estate fund advised by Elevation has bought a portfolio of 11 care homes from Clariane for £207m.
The deal comes as Elevation aims to address the structural undersupply of later living care bedrooms in the UK through the provision of modern care environments. EHP owns 40 UK care homes providing more than 2,700 bedrooms, run by nine operators.
The newly acquired facilities will continue to be operated by Berkley Care Group on long-term inflation-linked leases. In addition, Berkley has agreed to acquire its healthcare operations from Clariane.
A healthcare real estate fund advised by Elevation has bought a portfolio of 11 care homes from Clariane for £207m.
The deal comes as Elevation aims to address the structural undersupply of later living care bedrooms in the UK through the provision of modern care environments. EHP owns 40 UK care homes providing more than 2,700 bedrooms, run by nine operators.
The newly acquired facilities will continue to be operated by Berkley Care Group on long-term inflation-linked leases. In addition, Berkley has agreed to acquire its healthcare operations from Clariane.
Berkley Care operates 12 prime care homes across England comprising 805 bedrooms.
Andrea Auteri, managing partner at Elevation, said: “We select operating partners who are proven to create care home environments, have a record in care and can evidence a positive impact on their respective local communities.”
Laura Taylor, chief executive at Berkley, said: “Berkley’s mission has always been to provide all-inclusive care, enabling residents to live well today and thrive tomorrow. This partnership supports this mission.”
Elevation was advised by CBRE, Akin Gump, Pinsent Masons and Deloitte on this transaction.
Photo from Elevation
