In a significant move to enhance the UK’s care home infrastructure, Eldridge Real Estate Credit has announced the provision of a £96.7 million loan to Morar Care Group, in collaboration with Simply UK. This substantial investment will support the refinancing of existing care facilities and the development of new ones across Scotland and South East England.
Addressing Growing Demand for Quality Care
The UK is experiencing a rise in its median age, leading to an increased demand for high-quality residential care homes. Morar Care Group, known for its focus on resident comfort and well-being, has been at the forefront of meeting this demand. The partnership with Eldridge Real Estate Credit will further bolster their efforts to provide premium care services.
Key Highlights of the Investment:
- Portfolio Expansion: The loan will facilitate the refinancing of five operational care homes and fund the development of two new facilities. Upon completion, the portfolio will feature 496 operational beds across seven locations, including North Berwick, Dunfermline, Inverness, St. Andrews, Wimborne, with Frinton and Billericay in development.
- Enhanced Services: Morar Care Group offers a range of essential and luxury services, including 24/7 nursing care, assisted bathrooms, personalized wellbeing programs, and amenities like hairdressing salons and cinemas.
- Partnership and Growth: Chris O’Brien, CEO of Morar Care Group, expressed enthusiasm about the continued partnership with Eldridge Real Estate Credit, highlighting their commitment to delivering exceptional care as they expand across the UK.
Eldridge Real Estate Credit’s Role in the UK Market
Eldridge Real Estate Credit, part of Eldridge Capital Management, specializes in real estate credit opportunities across the US, UK, and Europe. This investment underscores their commitment to supporting critical infrastructure projects that address societal needs, such as the growing demand for quality care homes.
About Morar Care Group and Simply UK
Morar Care Group, affiliated with Simply UK, operates a portfolio of luxury care homes designed to provide premium residential care in secure and comfortable environments. Simply UK, founded in Glasgow, is dedicated to developing state-of-the-art care facilities that integrate development, construction, and operations to support superior living environments.
This strategic partnership not only enhances the care home sector but also reflects the growing importance of collaborative investments in addressing the UK’s aging population needs.