Ventas, Inc. (Ventas) has purchased five care homes in Sussex and Kent formerly owned by Canford Healthcare Limited (Canford).
Canford’s existing management team acquired the entire share capital of Canford and will continue to operate the homes, which were leased back
JLL provided corporate, financial and real estate advice to Ventas for the entire transaction.
Carrie Hiebeler, Senior Investment Officer at Ventas (NYSE: VTR) said: “We are excited to expand Ventas’s investment footprint in the UK with this attractive care home acquisition. Canford has an excellent team and we look forward to growing with them.”
Brian Cooney, CEO of Canford said: “We are very pleased with our new relationship with Ventas, a leading global healthcare REIT, which will bring significant capital to our growth ambitions and with which we can look to build on and expand the very high quality care business that we have built over the last few years.”
Tim Edghill, Head of M&A UK at JLL Corporate Finance said: “This acquisition is perfectly in line with Ventas’ long term global strategy of backing high-end care providers who have excellent track records and who provide an opportunity for investment and growth.”
The acquisition is Ventas’ second purchase in the UK, following the acquisition of three Spire Hospitals in 2014.