US healthcare REIT Welltower has agreed a development partnership with Quantum Group which gives it the option to acquire £250m of Quantum’s development pipeline through its Encore Care Homes subsidiary.
The strategic partnership between Welltower and Quantum will support the delivery of first-class healthcare communities in a market with a considerable undersupply of quality care services.
Eamonn Meadows, associate director, JLL, said: “We are thrilled to have assisted our client to secure a lucrative development partnership with Welltower.
“The first acquisition in this deal demonstrates renewed confidence in the UK elderly care market, particularly in purpose-built care homes with superior operating performance.”
The first transaction in the deal to take place is a 60-bed private pay-focused care home located on the south coast of England.
Welltower acquired the home, which opened in 2013, in a sale-and-leaseback deal for £13m.
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This article was first published on 7 November.
