CBRE ADVISES GOLD CARE HOMES ON SALE AND LEASEBACK
Global real estate advisor CBRE has advised Gold Care Homes on the sale and leaseback of 18 care homes for c£90m to an overseas real estate investor.
Gold Care Homes was established in 1999 and has since grown to operate 21 care homes through development, mergers and acquisitions. The homes are located throughout southern and central England, and focus on the private and public pay markets. The transaction involves 18 of the homes, located mainly in Southern England and Birmingham. The remaining homes will be operated outside the sale and leaseback agreement.
This latest transaction shows the continued appetite from international investors for UK healthcare assets and the elderly care market. This underscores the growing investor demand to grow and develop regional care businesses and benefit from index linked returns. The transaction provides Gold Care Homes with a secured source of capital for future developments and acquisitions.
We worked closely with Gold Care Homes and their tax advisers to structure the deal and provide comprehensive pre-sale support, which included corporate and property advice. An important part of our work was advising the owners of Gold Care Homes on various regulations and compliance issues in relation to registering four new operating companies to run and administer the care homes.
Royds Withy King advised Gold Care Homes on the legal aspects of the transaction whilst the purchaser was advised by Arnold & Porter Kaye Scholer and CMS Cameron McKenna Nabarro.