Rynda Healthcare acquires five Hamberley Group homes

Elstow Manor Care Home, Bedford Road, Wixams, Bedfordshire

Patron Capital-backed care home developer and operator Hamberley Group has sold five of its care homes to real estate investment firm Rynda Healthcare for £100 million.

The deal will see Hamberley Care Homes, Hamberley’s operating company, lease back three of its existing care homes under 35- year leaseback agreements and two further care homes, currently under development in Eastleigh and Enfield.

The five homes together account for 353 beds out of the current Hamberley Care Homes group of 14 operational luxury care homes.

The group said it will have a total of 28 homes by 2024, once the current pipeline of developments is complete. In addition to the five homes within the Rynda Healthcare deal it has a development pipeline of sites in Cambridge, Dorking, Hindhead, Camberley, Basingstoke, Southampton, Bristol, Keynsham, Cofton Hackett and Edwalton.

Daniel Kay, director of the Hamberley Group, said: “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, added: “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.”

Michael Walton, chief executive, Rynda Healthcare added: “We are delighted to have closed this transaction adding to our portfolio of care homes in Edinburgh, Braintree, Derby and Market Harborough. Rynda continues to build long-term relationships with a range of selected developers and operators whose business growth we look to support.”

Hamberley Development is actively acquiring land and existing operating businesses and has more than £170 million of equity capital allocated for healthcare investment, according to the company.

Stephenson Harwood acted as legal advisors for Rynda Healthcare and Travers Smith acted for Hamberley Group. PwC were Rynda Healthcare’s financial advisors and Cushman & Wakefield advised the group commercially.

Date published: April 19, 2022

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