To read this full article you need to be subscribed to Newsline.
Sign in Sign up for a FREE subscriptionAllegra, Moorfield JV acquires 183-bed care home portfolio
A joint venture between Allegra Care, a U.K.-focused care home operator, and Moorfield Group, a U.K. specialist real estate fund manager acting on behalf of Moorfield Real Estate Fund V (Moorfield V), has completed the acquisition of four nursing, dementia and care homes in Bristol and South Gloucestershire.
The joint venture acquired the homes from Grove Care, a family-run care home business, for an undisclosed sum. The acquisition, supported by Virgin Money as debt provider, adds a further 183 beds to the partnership’s rapidly growing nursing, dementia and care homes portfolio.
Olive Tree House, a 65-bed home, and Rose Garden, a 40-bed home, are co-located in Patchway. The two properties are modern, fit-for-purpose homes where 100 percent of the beds have accessible wet room ensuites, each allowing for the implementation of Allegra Care’s bespoke " “household care” model. Blossom Fields, a 43-bed home with 100 percent of the beds having accessible wet room e
