03/11/2022

Elevation Healthcare Core Plus – Deal Completion: Elevation Advisors LLP (“Elevation”) is pleased to support the growth of Anchor Hanover Group (“Anchor”) with their acquisition of the entire share capital of Halcyon Care Homes Topco Limited (“Halcyon”) (the “Transaction”).

The Transaction, announced in August, has now completed with the transfer of 5 long-term care home leases to Anchor as part of this acquisition.  Elevation Healthcare Core Plus (“EHCP”), a real estate fund advised by Elevation, originally purchased the real estate consisting of 5 homes and 330-beds through a sale and leaseback transaction in August 2021.  The homes, which are all operating, were built in the last 5 years to best-in-class standards with full en-suite wetrooms and strong environmental credentials.

Anchor is England’s largest not-for-profit provider of housing and care for people in later life. It provides retirement housing to rent and to buy, retirement villages and residential care homes, including specialist dementia care.  In total, Anchor serves more than 65,000 residents in 54,000 homes across almost 1,700 locations.  Its residential care services employ the majority of the 9,000-strong workforce, providing services to residents at 125 care homes.  They have exceptional care compliance, with over 88% of their care homes rated Good or Outstanding.

Andrea Auteri, Managing Partner at Elevation said: “We are excited to complete this transaction with Anchor and help facilitate their continued growth in the care home space.  We look forward to these homes continuing to thrive under Anchor’s leadership and we look forward to our relationship developing.”

Anchor’s press release: https://www.londonstockexchange.com/news-article/38OI/acquisition-of-11-care-homes/15700452

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