Investment manager Downing LLP today announces the successful exit by its funds from a group of five trading care homes managed by Care Concern Group.
Downing has worked closely with Care Concern since 2012, investing some £65 million across nine care home projects, including new-build developments, operational improvement projects, extensions and repositioning of existing homes. Care Concern is a high-quality care home operator aiming to provide the best facilities and comfortable surroundings for its residents. The homes have all been developed to a high standard, offering premium-quality care to elderly residents across the UK.
Downing’s exit from the five care homes to an undisclosed real estate investor will see the successful repayment of Downing funds’ capital and will generate an attractive return to Downing’s investors across both the debt and equity provided. Care Concern will continue to operate the homes, which comprise over 390 beds in total.
Mark Gross, Investment Director, Downing, commented:
Manpreet Johal, CEO, Care Concern, commented:
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