Elevation Advisors LLP (Elevation) has announced the completion of the sale and leaseback from Halcyon Care Homes of five care homes with a total of 330 beds.
Elevation advised on the deal that was completed by real estate fund, Elevation Healthcare Core Plus.
The homes were developed by LNT Construction with Knight Frank acting as financial advisor to LNT on the deal.
Andrea Auteri, Managing Partner at Elevation, said: “We are thrilled to begin our partnership with Halcyon, with a management team that we know well and highly respect. LNT are renowned for their efficient and high-quality homes and we are delighted to expand our partnership with them. We look forward to watching these homes progress.”
Philip Raven, Director at LNT, said: “We are delighted to complete yet another transaction this year with the experienced team at Elevation.”
Mike Whitehead, CEO at Halcyon, said: “We are looking forward to working with the existing operating teams and have every confidence that we can support each home to fulfil their potential.
“This marks the next chapter for Halcyon Care Homes in what promises to be an exciting 18 months. In addition to the acquisition of the four operating homes (264 beds), the newly built care home at Faversham (66 beds) opened its doors in early August 2021.
“This brings the total number of homes for the partnership between Halcyon Care Homes and LNT to seven. We know Elevation well and enjoy working with them, this is a wonderful opportunity to extend our relationship. We also want to thank Knight Frank for their work and support during the acquisition.”