Puma Investments completes double care home deal (the wealth net)
Puma Investments has completed two deals within the residential care home sector.
The £11 million combined deal will see Puma fund the development and initial operation of two purpose built, modern care homes. One, a £6 million new-build 112 bed care home in Hamilton, Scotland whilst the second is a £5 million 60 bed care home in Mill Hill, London. The deal is in partnership with established operator Abbey Healthcare, which is owned by Prabhdyal Sodhi and currently operates a portfolio of 16 homes with 1,279 beds across the UK.
Eliot Kaye, investment director, Puma Investments, commented: “We have been involved with a number of investments in the care home space, and are delighted to be working with Abbey Healthcare which is well established and a highly regarded operator in the sector. These deals fit well with our investment strategy of seeking to mitigate risk by ensuring our investments are asset backed and, we believe, will offer an attractive return for our investors.
“Small and medium-sized businesses are still finding it difficult to access the funding they need; as a consequence, we are seeing many established companies, like Abbey Healthcare coming to us for funding. We have a high quality pipeline of potential investments and can be flexible about where we invest, which is reflected in the variety of deals, both in terms of geography and business sector.”
Part of Shore Capital Group, Puma Investments is a specialist provider of tax efficient solutions and is responsible for PUMA VCT, the first planned exit VCTs to have returned to shareholders 100p.
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