Care home operator Allegra Care and Moorfield Group, a real estate fund manager acting on behalf of Moorfield Real Estate Fund IV, have acquired Sentinel Health Care, a privately owned nursing home group.
Sentinel Health Care owns five Hampshire nursing homes providing 200 beds, with facilities including communal lounges and landscaped gardens. The New Forest, Dunwood Manor, Waverely Lodge and Cedar Lawn homes are focused on nursing care and the Fordingbridge home provides dementia care.
This is the first acquisition following the establishment last year of the partnership between Allegra Care and Moorfield which aims to create an initial £125 million portfolio of modern, fit-for purpose nursing and dementia care homes in demographically supported locations across Central and Southern England. The partnership is seeking existing operational assets, including those offering asset management potential such as Sentinel Heathcare, together with newly developed homes.
Charlie Ferguson Davie, chief information officer at Moorfield Group, said: “We are pleased to have made our first acquisition as part of our partnership with Allegra Care and we look forward to using our combined expertise to deliver the highest quality of accommodation and care. We will continue to look for more opportunities to grow the portfolio and address the under-provision of nursing and dementia homes in the UK.”
Helen Jones, chief executive of Allegra Care, added: “Sentinel’s well-earned long track record of compliant service and commitment to resident care make them an excellent addition to our portfolio. We warmly welcome the Sentinel team into Allegra and turn our immediate attention to integrating the homes into the Allegra model.
The acquisition was supported by Allied Irish Bank as debt provider.
Allegra Care and Moorfield were advised by CBRE, Bryan Cave Leighton Paisner, and Menzies. Sentinel Healthcare was advised by Savills, Royds Withy King, and Hazlewoods.
Date published: April 29, 2021