Allegra Care and Moorfield Group launch €136m U.K. nursing home partnership

Allegra Care, a U.K.-focused care home operator, and Moorfield Group, a U.K. specialist real estate fund manager, have formed a partnership with the aim to create an initial £125 million (€136 million/$160 million) portfolio of modern, fit-for-purpose nursing and dementia care homes.

Building on its expertise and track record in the “beds” sector, Moorfield will initially be investing on behalf of Moorfield Real Estate Fund IV. Allegra Care will be responsible for originating and operating the assets and will also invest in the partnership, which is targeting a portfolio of 15 to 20 homes over the medium term.

The partnership will employ strict investment criteria, targeting modern, fit-for-purpose homes with large communal areas, in demographically supported locations across central and southern England. The partnership will seek to acquire both operational assets, including those offering asset management potential, alongside newly developed homes and is in ad