International real estate advisor Savills has advised CareTrust REIT on the off-market acquisition of a portfolio of 16 care homes. The portfolio comprises 1,307 operational care beds across England and Scotland and was acquired through a corporate transaction valued in excess of £150 million.
Acting as sole buy-side advisor to CareTrust REIT, Savills played a key role in originating, structuring and progressing the transaction.
The acquisition comes at a time of growing demand for care home provision across the UK. Recent research from Savills identifies a requirement for approximately 139,000 additional care home beds by 2036, equivalent to around 30% of existing supply. Annual delivery rates will need to more than double from recent levels to meet projected demand.
Joel Gazeres, Director, Healthcare, Savills Operational Capital Markets, says, “We are pleased to have advised CareTrust REIT on this significant off-market acquisition. The transaction reflects the continued strength of the UK care home market and sustained demand for operational healthcare portfolios at scale.”