Quercus to boost investment base to £450m

Posted on May 1st, by editor in Caring Times. No Comments

Quercus Healthcare Property Partnership, a specialist fund investing in the healthcare sector, is set to expand from £245 million to £450 million by opening up the fund to external institutional investors later in 2004. Morley Fund Management and Quintain Estates and Development plc established Quercus in 1998 to invest in healthcare properties, predominantly nursing and residential care homes for elderly and learning disabled people. Initial investment was provided by Quintain and Morley Managed Life and Pension Funds. The existing partners, who say the Fund has produced excellent investment outperformance since it was launched, will each commit a further £20 million of equity to the Fund. These equity commitments will be matched by £40m of debt. Sale & leaseback Quercus is actively seeking further new investment opportunities. As a first step in the expansion of the Fund¹s assets, Quercus has agreed terms for the acquisition of a £28m portfolio of care homes which it is due to complete by the end of J

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