Octopus Real Estate is investing £35m (€41m), on behalf of its UK healthcare property fund, to finance three elderly care homes as part of a partnership with operator Acacia Care.
The homes, located across sites in Leicestershire and Norfolk, will provide over 200 beds to Octopus Healthcare Fund’s (OHF) portfolio of more than 100 homes.
Two of the homes, which are currently being constructed by Synergy Care Developments are due to complete in 2025, when Acacia Care will operate each home on a long-term lease.
Max Weitzmann, investment director at Octopus Real Estate, said: “We’re pleased to build on our partnership with Acacia Care, an experienced and well-respected operator.
”We have now worked together on the development of five best-in-class-elderly care homes across the UK, totalling over 350 beds. It’s another example of Octopus Real Estate’s commitment to delivering quality, sustainable homes, fit for the future.”
Jay Patel, managing director at Acacia Care, said: “We’re delighted to be working with Octopus Real Estate to fund and operate these three purpose-built care facilities.
”At Acacia we believe that everyone has the right to live in a dignified, private and respectful environment, and the homes we have funded with the Octopus Team are a prime example of that commitment.”
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