Property fund manager Moorfield Group has teamed up with care home operator Allegra Care with a goal of building a £125m portfolio of nursing homes.
Their partnership will focus on modern nursing and dementia care homes in central and southern England, and will invest money on behalf of the Moorfield Real Estate Fund IV.
Allegra Care will identify and run the portfolio, likely to comprise 15-20 homes.
Moorfield chief executive Marc Gilbard said: “The nursing home sector is a logical extension to our demographically driven investment strategy, as we look to build on our successful track record of investing at the early stages across the ‘beds’ sectors.
“The fundamentals for the UK’s elderly healthcare sector remain strong, and we expect the impact of the Covid-19 pandemic to be profound, accelerating the much needed delivery of fit-for-purpose homes, of which there is a chronic undersupply in the UK.”
Moorfield was advised by Connell Consulting and Shoosmiths on the launch of the partnership; Allegra was advised by CBRE and Farrer & Co.
To send feedback, e-mail tim.burke@egi.co.uk or tweet @_tim_burke or @estatesgazette
