Allegra Care and Moorfield Group’s UK nursing home investment venture has bought Sentinel Health Care as its first acquisition.
In September last year, UK-focused care home operator Allegra and the Moorfield Real Estate Fund IV fund partnered to invest an initial £125m (€143m) across central and southern England. The venture will target a portfolio of 15-20 nursing and dementia care homes over the medium term.
The companies said the partnership has bought Sentinel, the owner of a portfolio of five operational nursing homes providing 200 beds, located across Hampshire. Financial details were undisclosed.
Charlie Ferguson Davie, CIO of Moorfield Group, said: “We are pleased to have made our first acquisition as part of our partnership with Allegra Care and we look forward to using our combined expertise to deliver the highest quality of accommodation and care.
“We will continue to look for more opportunities to grow the portfolio and address the under-provision of nursing and dementia homes in the UK.”
Helen Jones, CEO of Allegra Care, said: “Sentinel’s well earned long track record of compliant service and commitment to resident care make them an excellent addition to our portfolio.
“We warmly welcome the Sentinel team into Allegra and turn our immediate attention to integrating the homes into the Allegra model.
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