Irwin Mitchell advises on major care home sale: 13 homes for more than £70m million
13 Jan, 2014
National law firm Irwin Mitchell’s real estate team has advised Prestbury on the sale of a portfolio of care homes formerly operated by care home operator Southern Cross.
Legal & General Property has bought the 13 homes for just over £70 million. The homes have been operated by Methodist Homes 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 and solicitors Richard Mansell and Emma McPeake. Legal & General Property was advised by Jane Edwarde and Gemma Goddard of Slaughter and May.
Lewis Myers (pictured) commented: “We have been involved with the portfolio for over eight years and are delighted to have acted for Prestbury on this significant disposal”.