Walden Care has purchased two operating care homes and also has a funding facility in place to refurbish its existing units and purchase one turnkey home.
These were the third and fourth acquisitions for the care home group, taking the total number of beds to 254 and it has ambitious plans to continue to grow. The company needed to put together a dedicated professional team to enable it to complete purchases quickly and smoothly, most notably within a three-month period.
Buyacarehome partners Chandler & Co, Mitchells Accountants and Windles Solicitors successfully delivered, acting for legal, accountancy and mortgage requirements respectively.
Jonathon Read, senior broker at Chandler & Co, who arranged the mortgage for the deal says: “We have worked with Mike for many years now and continue to work with an increasing amount of group operators who are looking to expand in the sector. Unfortunately, the client’s existing bank could not assist with their ambitious growth plans.
"As Chandler & Co has access to the whole market, we were able to agree a competitive mortgage package with a bank who matches their ambitions and will enable them to grow in line with this.
"The market is increasingly turbulent, which highlights the necessity for complete market coverage and sophisticated presentation. Working alongside Mitchells and Windles enabled us to ensure that any issues that arose throughout the process were able to be addressed as quickly as possible. In the current market it’s important to work with healthcare specialists to deal with these issues efficiently.”