Seven Homes Bought By Private Overseas Investor

National law firm Irwin Mitchell’s real estate team has advised Prestbury on the sale of a portfolio of the remaining seven care homes of the original 20 care homes, formerly operated by care home operator Southern Cross.
 
A private overseas investor  has bought the seven homes for £17.1 million. The homes have been operated by Mencap since Southern Cross went into receivership in 2011. Irwin Mitchell had previously advised Prestbury in connection with the transfer of operator. The same real estate team had also advised on the original acquisition of the care homes by Prestbury who bought them as part of a portfolio acquired from Blackstone, the then owner of Southern Cross, in 2005.
 
The Irwin Mitchell team was led by Real Estate Partner Lewis Myers, assisted by Associate Paul Mellor. 
 
Lewis Myers commented: