Maria Mallaband Care Group (MMCG) and Apache Capital Partners, the London and Bahrain based real estate investment management firm announces a £50m care home funding deal which will see the development of upto 8 luxury 5-star care homes under the MMCG brand.
The first transaction will see the creation of a new £5.5m, 53-bed care home in Gerrards Cross, Buckinghamshire. The high specification premium care home will offer luxury en-suite bedrooms, spacious reception rooms, residents and visitors café, cinema room, hair dressing salon and library. The home situated on Oxford Road will cater for all categories of care including, dementia, nursing and residential and will boast the decor of a 5 star hotel.
Phil Burgan, Founder, Chairman and CEO, Maria Mallaband Care Group, says “We are delighted to announce this funding partnership with Apache Capital Partners and very excited about the development opportunities it brings. The MMCG brand is synonymous with first class care and 5-star facilities and this deal will allow us to continue to grow our presence across the UK. I would like to thank Apache and their investors, for their efforts and belief in MMCG and we look forward to the creation of 8 ‘best in class’ care homes in the near future.
MMCG currently own 57% of its total portfolio and while we intend to maintain this ratio by funding some future projects in a more traditional way, it is very important to supplement our growth with a quality external partner such as Apache.
John Dunkerley, Founder Partner, Apache Capital Partners, says “we look forward to developing a long term relationship with Maria Mallaband Care Group. The acquisition marks a significant development in our Social Infrastructure Platform and completes the acquisition across all four of our target sectors including healthcare, education, student accommodation and affordable housing, taking our gross assets under management to approximately £97m.
We are excited to be backing a management team and operational platform of the highest caliber, whom will no doubt become one of the leading national luxury care operators in the UK.