Housing 21 reaches 10,000
Extra Care properties with largest ever
acquisition
Housing 21 has completed its largest acquisition
to date with the transfer of 1,567 older person's properties from
Midland Heart.
The leading not-for-profit provider of Extra
Care and Retirement Living completed the purchase of 23 schemes
from Midland Heart with over 1,600 residents and 137 employees
transferring to Housing 21.
At schemes where on-site care is provided, all
of the Care Teams will remain unaffected as all care is delivered
by third-party providers who will continue to provide the same care
to residents with the same employer.
Tony Tench, Deputy Chief Executive for Housing
21, said: "Acquisitions form a key part of our growth strategy,
alongside our commitment to develop up to 400 new properties per
annum. In the past 18 months, we have successfully acquired over
970 properties from three other providers who, like Midland Heart,
recognised our expertise in providing safe, quality and affordable
homes to older people of modest means.
"Our combined approach of acquiring properties
alongside the development of new sites helps to ensure existing
housing opportunities for older people are protected whilst we
continue to bring forward new schemes. This provides ongoing
security for our current residents, who can be reassured we remain
committed to meeting their specialist needs whilst providing
increased opportunities for older people seeking housing with care
or support in the future."
As a direct result of the acquisition, which was
funded through cash and revolving credit facilities, Housing 21 has
now surpassed the milestone of over 10,000 Extra Care properties.
These will be managed alongside its 14,000 Retirement Living homes
across a combined total of 650 schemes in England.
For interview requests, further information or
images please
email communications@housing21.org.uk.