U.K.-based retirement home group McCarthy & Stone has agreed to be acquired by a fund managed by private equity group Lone Star Funds for around £630 million (€695 million/$822 million).
The purchase was made on behalf of the $4.7 billion Lone Star Real Estate Fund VI.
Donald Quintin, president of Lone Star Europe, said McCarthy & Stone represents “an attractive opportunity in a market underpinned by clear fundamentals: a rapidly aging population and a structural undersupply of suitable housing options for older people.”
