01/08/2022
Elevation Advisors LLP (“Elevation”) is pleased to announce that Elevation Healthcare Core Plus (“EHCP”), a real estate fund advised by Elevation, has completed the acquisition of land and a forward funding agreement to support the development of two new, state-of-the-art, care homes in Oadby, Leicester and Humberston, North-East Lincolnshire, covering 132-beds with Tanglewood Care Homes (“Tanglewood”). Once built, the homes will be let to Tanglewood.
Tanglewood is the leading operator in Lincolnshire and has thirty years of track record providing great care and support for over 400 residents. Tanglewood has been recognised in recent years for its innovative approach to residential care, receiving multiple awards and recognition for training initiatives and community facilities.
The homes will be built to best-in-class standards with full en-suite wetrooms and strong environmental credentials. The properties, which will create 60-80 jobs for the local community, will be let to Tanglewood on a long-term lease with RPI-linked escalator with cap and collar.
Andrea Auteri, Managing Partner at Elevation said: “We are pleased to expand our partnership with Tanglewood with a further two developments. Both the operational and development teams at Tanglewood continue to deliver and Elevation are thrilled to help support their growth.”
Karen Whitehead, Development Director at Tanglewood said: “We were delighted to complete the deal between Tanglewood and Elevation for the development of two further care homes in Humberston and Oadby. The last two years have been an exciting time for Tanglewood Care Homes. We have completed one home that is now operational and we are on site with four other care homes. We enjoy a good relationship with Elevation and look forward to working together on further schemes in the future.”
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Disclaimer
This press release is issued by Elevation Advisors LLP, which is authorised and regulated by the Financial Conduct Authority. The information contained herein is provided for informational purposes only and does not constitute investment advice, an offer to buy or sell any financial instrument, or a solicitation of any kind. Past performance is not a reliable indicator of future results. Any forward-looking statements or projections are based on current assumptions and subject to risks and uncertainties that may cause actual outcomes to differ materially. This communication is intended solely for professional clients and eligible counterparties as defined by the FCA. It is not directed at retail clients and should not be relied upon by any person who does not meet the criteria for professional client classification. Investments may involve significant risk, including the potential loss of capital. Recipients should seek independent financial advice before making any investment decisions. While reasonable care has been taken to ensure the accuracy of the information provided, Elevation Advisors LLP makes no representation or warranty as to its completeness or reliability and accepts no liability for any loss arising from reliance on it.