Real estate fund Elevation Development Partners (EDP) has completed the sale of three new-build care homes to real estate fund Pierval Santé.
EDP has now developed six new purpose-built high-quality care homes in partnership with care operator Care Concern Group CCG. The sale includes Darcy House Care Home in Matlock, Derbyshire, Highwood Care Home in Bideford, Devon, and Mearns View Care Home in Newton Mearns, East Renfrewshire.
CCG will operate all three care homes, each of which offer 24-hour comprehensive care with facilities including cinemas, hairdressers, and sensory gardens.
Yoad Hariely, investment associate at Elevation, said: “We are delighted to see the realisation of these projects in our investment joint venture, which is providing modern, high-quality care environments to undersupplied markets. This innovative investment partnering allows operators to incubate freehold developments on their balance sheet and retain development upside, while reducing their equity requirements, enabling efficient scaling of multiple developments at once. The sale of these care homes shows confidence in the UK healthcare real estate market and the value of quality accommodation for investors, as well as for residents, staff, and the local community.”
