A real estate fund advised by Elevation Advisors, Elevation Healthcare Properties (EHP), has acquired the freehold interest of six care homes operated by Tanglewood Care Homes in Lincolnshire from an undisclosed vendor.
The six properties are purpose-built and are let on long-term leases with RPI-linked escalator with cap and collar.
The vendor was undisclosed.
The acquisition of these homes marks EHP’s fifth operator relationship.
Elevation partner Hunter Drew said: “We are delighted to add Tanglewood to EHP’s growing number of operator relationships. Tanglewood is a leading regional operator with an excellent track record of care and wellbeing for its residents. The acquisition will ensure continuity for Tanglewood’s staff and residents and will provide the business with capital for further growth.”
Carterwood, a health and social care data analyst company, supported Elevation with this acquisition.