Blue Owl Capital and Moor Park Capital Partners have completed the £1.3bn acquisition of a portfolio of 12 acute-care hospitals in the UK operated by Spire Healthcare Group.
The Spire portfolio will form part of Blue Owl’s real assets platform and benefit from the firm’s institutional scale, investment expertise and long-standing relationships across the real estate market.
Marc Zahr, co-president and global head of real assets at Blue Owl, said: “The acquisition of the Spire portfolio represents a strategic investment in a portfolio of high quality UK private hospitals with a market leading tenant, well-structured long-term leases and significantly accelerates the expansion of our European net lease strategy.
“This transaction builds on the firm’s experience investing across the healthcare landscape and represents an opportunity to capitalise on the strong supply and demand fundamentals in the European healthcare real estate sector while delivering what we believe to be compelling value for investors and the communities these facilities serve.”
The acquisition was financed by a new secured term loan, with Standard Chartered Bank, Natixis and Crédit Agricole CIB acting as joint mandated lead arrangers and lenders to the transaction. Rothschild & Co served as Blue Owl’s exclusive financial adviser, Kirkland & Ellis and Hogan Lovells served as Blue Owl’s legal counsel and Deloitte served as Blue Owl’s tax and financial due diligence advisers.
