Operator Transition for Five Care Homes in East Midlands and South East England

Upon the Transaction closing (scheduled for Autumn 2022 once the CQC transfer of registration has taken place), Elevation Healthcare Core Plus (“EHCP”), a real estate fund advised by Elevation, will have 5 long-term leases with Anchor.  EHCP originally purchased the real estate consisting of five care homes in East Midlands and South East England with 330-beds through a sale and leaseback transaction in August 2021.

Anchor are the largest not-for-profit provider of housing and care for older people in England, managing over 35,500 socially rented units, over 12,500 leasehold units, and 114 care homes (5,860 rooms), serving more than 65,000 residents.  They have exceptional care compliance, with over 93% of their care homes rated Good or Outstanding.

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.  The properties are let on long-term leases with RPI-linked escalator with cap and collar.

Andrea Auteri, Managing Partner at Elevation said: “We are excited to begin a new relationship with Anchor and help facilitate their growth in the care home space.  The team at Halcyon have done an exceptional job with the homes over the last 15-18 months, providing outstanding care for the local communities.  We look forward to these homes continuing to thrive under Anchor’s leadership.”

Anchor’s press release: Acquisition, 28 Jul 2022 10:30 | Shares Magazine

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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.