Allegra Care And Moorfield Acquire Hampshire Based Sentinel Health Care Group
-First acquisition for newly formed £125m UK nursing home partnership-
Allegra Care, the UK-focused care home operator, and Moorfield Group, a leading UK specialist real estate fund manager acting on behalf of Moorfield Real Estate Fund IV (Moorfield), have completed the acquisition of Sentinel Health Care, the privately owned nursing home group.
Sentinel Health Care owns a portfolio of five operational nursing homes providing 200 beds, located across Hampshire. All five homes offer attractive facilities including communal lounges and landscaped gardens and are characterised by providing high quality care. The New Forest, Dunwood Manor, Waverely Lodge and Cedar Lawn homes are focused on nursing care and the Fordingbridge home is focused on providing dementia care.
This is the first acquisition following the establishment of the partnership between Allegra Care and Moorfield in 2020 which is aiming 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 will seek to acquire exisiting operational assets, including those offering asset management potential such as the Sentinel Heathcare acquisition, together with newly developed homes.
The acquisition was supported by Allied Irish Bank (AIB) as debt provider.
Commenting on the transaction Charlie Ferguson Davie, CIO of 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, CEO of Allegra Care, added:
“We are delighted to have acquired the Sentinel Health Care homes. 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.