Allegra Care, Moorfield add 133 beds to UK portfolio

Magdalen House

Care home operator Allegra Care and Moorfield Group, a real estate fund manager acting on behalf of Moorfield Real Estate Fund IV, have acquired two nursing, dementia and care homes in Cambridgeshire and Suffolk from Alysia Caring, a luxury care home operator.

The acquisition, supported by Allied Irish Bank (AIB) as debt provider, adds 133 beds to the partnership’s portfolio.

Following this investment, the partnership owns seven homes across Hampshire, Cambridge, and Suffolk.

It is the latest for the joint venture between Allegra Care and Moorfield aimed at creating an initial £125 million portfolio of modern, fit-for-purpose nursing, dementia, and care homes across the UK.

Cherry Blossom, an 80-bed home in Peterborough, Cambridgeshire, and 53-bed Magdalen House in Hadleigh, Suffolk, are modern, fit-for-purpose homes with all the beds having accessible wet room ensuites, They have options for specialist dementia care and 24-hour assisted living. The facilities also offer a range of community facilities and amenities, including spacious lounges and purpose-built gardens.

Helen Jones, chief executive of Allegra, said that the acquisition was a tremendous end to 2021 for Allegra Care: “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.”

Charles Ferguson Davie, chief investment officer of Moorfield, added: “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.”

Cushman & Wakefield, CBRE, Bryan Cave Leighton Paisner & Menzies advised Allegra Care and Moorfield.

The seller was advised by Freeths and Freemans. Halo Care acted as the selling agent.

Date published: January 14, 2022

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