06/12/2019
Elevation Healthcare Properties (“EHP”), a real estate fund advised by Elevation Advisors LLP (“Elevation”), is pleased to announce that it has completed the acquisition of the property underlying six care homes located in Lincolnshire. The homes are let to the incumbent operator Tanglewood Care Homes (“Tanglewood”).
Tanglewood is the leading care homes operator in Lincolnshire and has a thirty year track record of providing great care and support for nearly 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 six properties are purpose-built and are let on long-term leases with RPI-linked escalator with cap and collar. Tanglewood becomes EHP’s fifth operator relationship. The acquisition of the care homes in Lincolnshire further enhances EHP’s geographic and operator diversification.
Hunter Drew, partner at Elevation said: “we are delighted to add Tanglewood to EHP’s growing number of operator relationships. Tanglewood is a leading regional operator with an excellent track record of care and wellbeing for its residents. The acquisition will ensure continuity for Tanglewood’s staff and residents and will provide the business with capital for further growth. This transaction is a further example of how Elevation can bring flexible capital solutions to support the growth of its operating partners.”
EHP continues to pursue further transactions with a growing exclusivity pipeline of future potential investments.
Disclaimer
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