Slaughter and May advised Legal & General on the acquisition of 13 care homes from Prestbury Investments, for a total purchase price of just over £70 million. The portfolio consisted of 12 freehold properties and one long leasehold property and the homes are let to Methodist Homes ('MHA'), a leading care home provider.

Legal & General has lowered the current rents for 13 care homes by providing MHA with long term stable financing, with leases that have annual RPI-linked rent reviews, creating stability and certainty.

CONTACTS

Real Estate: Jane Edwarde (partner), Jane Hilton (associate), Gemma Goddard (associate); Tax: Jeanette Zaman (partner), Ed Milliner (associate)