Shoosmiths has advised Moorfield Group on its £125m partnership with Allegra Care.
The partnership, structured by way of a corporate joint venture, will build a portfolio of nursing and dementia care homes, focusing on investments in central and southern England and is a logical extension to Moorfield’s demographically driven investment strategy. The partnership will seek to acquire both operational assets, including those offering asset management potential, alongside newly developed homes.
Moorfield will initially be investing on behalf of Moorfield Real Estate Fund IV. Allegra Care will be responsible for originating and operating the assets and will also invest in the partnership, which is targeting a portfolio of 15 – 20 homes over the medium term.
Corporate partner James Foster (Picture) and real estate partner Simon Meek led a multi-disciplinary Shoosmiths team in corporate (Simon Procter and Natalie Hager), commercial (Alex Kirkhope and Heather Stark), real estate (Simon Meek and Charles Jackson) and regulatory (Sam Tyfield).
Involved fees earner: James Foster – Shoosmiths; Natalie Hager – Shoosmiths; Charles Jackson – Shoosmiths; Alex Kirkhope – Shoosmiths; Simon Meek – Shoosmiths; Simon Procter – Shoosmiths; Heather Stark – Shoosmiths; Sam Tyfield – Shoosmiths;
Law Firms: Shoosmiths;
Clients: Moorfield Real Estate;