Downing Successfully Exits Nine Elderly Care Homes In Sale And Leaseback Transaction

Investment manager Downing has successfully exited nine purpose-built elderly residential care homes managed by long-term partner Care Concern Group (CCG), following a sale and leaseback transaction to a healthcare infrastructure investor.

Downing’s funds have supported CCG over several years to acquire the group which comprised of four trading homes, three newly constructed homes purchased at turnkey, one closed home which was substantially refurbished and a home which was fully redeveloped

Mark Gross, Partner and Head of Private Equity, Downing, said:
“The transaction highlights how Downing is working with partners to increase the provision of care beds in underserved markets while creating value for the wider community, management teams and our investors. The successful exit builds on our strong track record with Care Concern who continue to provide high-quality, premium care for elderly residents.”

David Martin Smith, Managing Director, Care Concern Group said:
“This exit is further evidence of our valuable partnership with Downing, who we have worked with over many years and who continue to support the growth and development of the wider group.”