Allegra Care and Moorfield Group have added 133 beds to their UK care home partnership.
UK-focused care home operator Allegra Care and real estate manager Moorfield via its Moorfield Real Estate Fund IV fund have bought two nursing, dementia and care homes in Cambridgeshire and Suffolk from Alysia Caring.
Financial details were undisclosed.
The assets include Cherry Blossom, an 80-bed home in Peterborough, Cambridgeshire, and the 53-bed Magdalen House in Hadleigh, Suffolk.
This acquisition is the latest for the joint venture between Allegra Care and Moorfield aimed at creating an initial £125m (€145.5m) portfolio of fit-for-purpose nursing, dementia and care homes across the UK.
Following this investment, the partnership now owns seven homes across Hampshire, Cambridge and Suffolk, the companies said.
Charles Ferguson Davie, CIO of Moorfield, said: “The acquisition of these two high-quality homes reflects the partnership’s ongoing intention to expand its ownership of homes in this region of the UK.
“The local demographics are supportive of the demand for high-quality nursing, dementia and care homes and our partnership with Allegra Care is intended to take advantage of our combined investment and operational expertise to provide exceptional levels of care to the residents.”
Helen Jones, CEO of Allegra, said: “We are very pleased to confirm the addition of Cherry Blossom and Magdalen House to our portfolio. Both are modern, attractive, warm homes with good reputations and strong standards of service.
“We welcome our new colleagues to the Allegra Care team. We thank our due diligence partners for their efforts. The acquisition was a tremendous end to 2021 for Allegra Care.”
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