Shoosmiths assists Berkley Care Group on sale-and-leaseback of £207m care home portfolio

Shoosmiths has advised Berkley Care Group on a deal involving a £207m care home portfolio.

The sale-and-leaseback transaction sees Clariane SE, a French care home group and previous owner of Berkley Care, sell its UK care home portfolio to Elevation Healthcare Properties. The portfolio spans 12 care homes located across England – providing a combined 805 beds.

Shoosmiths acted for Berkley Care Group on the leaseback of the care homes - advising and negotiating on the particulars of the inflation-linked, long-term leases. The law firm also advised the care home operator on a share acquisition of the Berkley Care operating companies, with its leadership team agreeing to acquire the Berkley Care operations from Clariane SE. Contracts were exchanged on the deal in early March 2024, with the deal completing 10 April 2024.

Laura Taylor, chief executive officer at Berkley Care Group, said:

“We’re thrilled to be broadening our partnership with Elevation, whose values, culture and ambitions mirror our own. Berkley Care Group’s mission has always been to provide industry-leading, compassionate, all-inclusive care, enabling residents to live well today and thrive tomorrow. This partnership supports this mission and we’re excited to begin this new chapter.”

Leading the law firm’s deal team was real estate partner, Tim Flight, with assistance from legal director Helen Bridgman, principal associates Helen Westwood and Balraj Kaur, and senior associates Iyanu Onalaja and James Frost. Specialist support was also provided by construction partner Rick Atha and senior associate Albi Bell.

The corporate acquisition team was led by corporate partner Grant Edwards and associate Tiarnán McKenna, as well as banking partner David Adams, senior associate Jessika Thumpston and associate Isabel Whitehurst, and corporate tax experts Dan Kennedy and Sarah Buxton.

Tim Flight, real estate partner at Shoosmiths, added:

“Berkley Care is a highly regarded operator of 12 modern, award-winning, prime care homes, and we were proud to have acted for the leadership team on this transaction.

"Shoosmiths' multidisciplinary team demonstrated the firm’s strength and expertise in this sector to ensure a successful outcome.”