Prior to the acquisition, the homes were operated by the Avery team under management arrangements. The deal transitions these properties into full ownership, marking a major step in the consolidation and expansion of its national care home portfolio.
Following the transaction, Avery Healthcare now owns and operates 106 homes comprising 8,614 beds across its UK-wide network.
A Reed Smith London team advised Avery Healthcare on the real estate, construction, corporate, financing, employment and tax aspects of the transaction. The team consisted of Jimmy Theodorou, Laura Riddeck, David Stokes, Kyle Sethi (real estate and construction), Samantha Roberts, Alexander Pierce, Edward Chapman, Hana Sattar (corporate), Jason Richardson and Ethan Dodd (finance), Caspar Fox (Tax) as well as David Ashmore and Will Azuh (employment).
Theodorou, real estate partner at Reed Smith, said: “We’re proud to support Avery Healthcare on this strategic acquisition, which further strengthens its footprint in the care sector. This transaction highlights Reed Smith’s cross-disciplinary capabilities in delivering complex deals within the healthcare and real estate space.”
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