Real estate investor Octopus Real Estate has announced a £35m strategic partnership with Acacia Care to fund three new care homes.
The three homes will form part of Octopus Healthcare Fund’s portfolio of more than 100 homes. Two of the homes are recent acquisitions by the Fund. Currently being constructed by Synergy Care Developments in Leicestershire and Norfolk, both projects are due to complete in 2025, when Acacia Care will operate each home on a long-term lease. Synergy is constructing the homes to an all-electric specification, helping the Fund towards its 2040 net zero target.
In addition, the Fund recently saw the practical completion of its first fully operational all-electric home, in Hinckley, Leicestershire, which was developed by Care Build Group on behalf of Acacia Care.
Max Weitzmann, investment director at Octopus Real Estate, said: “We’re pleased to build on our partnership with Acacia Care, an experienced and well-respected operator. We have now worked together on the development of five best-in-class-elderly care homes across the UK, totalling over 350 beds. It’s another example of Octopus Real Estate’s commitment to delivering quality, sustainable homes, fit for the future.”
Acacia Care MD Jay Patel commented: “We’re delighted to be working with Octopus Real Estate to fund and operate these three purpose-built care facilities. At Acacia we believe that everyone has the right to live in a dignified, private and respectful environment, and the homes we have funded with the Octopus Team are a prime example of that commitment.”
