BLP acts for Ventas Inc on acquisition of five care homes
International law firm, Berwin Leighton Paisner (BLP), has acted for US REIT, Ventas Inc, on its £55m acquisition of five care homes in the London region from Churchgate Estates Limited.
The portfolio has been simultaneously let to operator, Canford Healthcare Limited, on 25 year leases at an annual rent of £3.7m. This is the second transaction on which BLP has represented Ventas in the UK in 2015, having also acted on the purchase and lease-back of a five care home portfolio from Canford in January 2015.
The multi-disciplinary BLP team was led by corporate partner Michael Anderson assisted by Senior Associate Laura Patao-Caminas and Associate Tom Bacon. The real estate team was led by Senior Associate Matthew Peel assisted by Emily Green, James Banks, Lindsey Anderson, construction associate Elizabeth Stonebank and environmental and planning specialist Isabelle Laborde. Partner Gary Richards and Associate Director Jeremy Bark advised on tax and healthcare regulation respectively.
PWC also provided tax advice to Ventas. Edwin Coe acted for Churchgate Estates Limited and Canford Healthcare Limited were advised by Charles Russell Speechlys and Lester Aldridge.