Twenty two care homes formerly run by LifeStyle Care 2011 have now been transferred to new tenants on a long term basis.
Ten homes are now operated by Maria Mallaband group, nine by Bondcare group, and three by Ultima Healthcare.
These homes form a key part of the expanding portfolio of healthcare property assets owned by affiliates of Lone Star Funds. All these former LifeStyle homes are purpose built with 16 located in London.
The real estate portfolio owned by the Lone Star Funds comprises the former Quercus portfolio acquired in October 2016, the 22 homes from the former LifeStyle Care, and some newly acquired care homes. Overall this portfolio, managed by Layland Walker, comprises more than 110 care homes, let to some 15 different operators on a long term basis, who provide more than 5,500 beds in England, Scotland, and Wales.
“This former LifeStyle Care portfolio has great prospects with the right long term tenant partners delivering high quality care,” said Bruce Walker, of Layland Walker. “Taking the homes out of administration and interim management onto a secure long term basis, gives certainty to residents and staff as well as local authorities and NHS commissioners who have been supportive of the process.”