Octopus Capital has completed a £30m forward-funding deal with Synergy Care Developments for the delivery of two new, purpose-built care homes in Radcliffe, Nottinghamshire, and Peterborough in Cambridgeshire.
The homes will provide 152 beds in total and will be operated by Acacia Care. They will be leased on 35-year, fully repairing and insuring, index-linked terms. The developments have been acquired on behalf of the Octopus Healthcare Fund (OHF).
Max Weitzmann, investment director at Octopus Capital, said: “It’s great to be working again with Synergy Care, as we continue to collaborate with their experienced team to help meet the growing demand for high quality care provision in these two areas. It’s incredibly rewarding to have found such a strong partner for current and future projects, whose values align so closely with those of Octopus Capital – to deliver more modern and sustainable homes that are fit for the future.”
Jay Patel, managing director of Acacia Care, added: “We’re delighted to be continuing our relationship with Octopus Capital to fund and operate these two purpose-built care facilities. At Acacia we believe that everyone has the right to live in a dignified, private and respectful environment and the homes we have funded with the Octopus team are a prime example of that commitment.”
