Elevation Advisors LLP (“Elevation”) is pleased to announce that Elevation Healthcare Properties (“EHP”), a healthcare real estate fund advised by Elevation, agreed to acquire from Clariane S.E. (“Clariane”) 11 properties and simultaneously lease them back to Berkley Care Group (“Berkley Care”). Concurrently, Berkley Care’s existing leadership team agreed to acquire the operations of Berkley Care operations from Clariane. The total consideration to Clariane was £207 million. In line with EHP’s existing strategy, the properties are let to Berkley Care on inflation-linked, long-term leases.
This transaction cements and expands EHP and Berkley Care’s existing relationship. Berkley Care is a highly-regarded operator of 12 modern award-winning prime care homes across England comprising 805 high-quality beds.
Source: press release sent 4 March 2024