Patron Capital-backed UK luxury care home developer and operator Hamberley Group has sold five of its assets to Rynda Healthcare in a £100m (€116.4m) sale and leaseback deal.

Real estate investment firm Rynda has bought existing care homes, Elstow Manor in Bedford, Verwood House in Verwood in Dorset and the Upton Manor care home in Poole as well as two further care homes, currently under development in Eastleigh and Enfield.

Hamberley’s operating company, Hamberley Care Homes, will leaseback the three existing care homes under 35-year leaseback agreements and subsequently lease back the two further care homes, currently under development.

Michael Walton, CEO, Rynda Healthcare, said: “We are delighted to have closed this transaction adding to our portfolio of care homes in Edinburgh, Braintree, Derby and Market Harborough. Each home is centred around providing its residents with the very best care in state-of-the-art properties.

“Rynda continues to build long term relationships with a range of selected developers and operators whose business growth we look to support.”

Daniel Kay, director of the Hamberley Group, said: “We’re delighted to have agreed this deal with the team at Rynda Healthcare. This agreement builds on our strong track record for developing and operating some of the UK’s leading luxury care homes.

“This sale will allow us to invest further in the elderly care market and ensure that we deliver care environments that are truly luxurious, safe and homely.” 

Keith Breslauer, managing director of Patron Capital, said: “This is the latest in a number of sale-and-leaseback transactions we’ve completed through Hamberley, highlighting growing investor interest in the later living sector.

“Having built and sold Gracewell Healthcare, we have a long history of developing exceptional care home properties that meet the needs of an increasingly discerning ageing population.”

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