Elevation Advisors LLP (“Elevation”) is pleased to announce that Elevation Healthcare Core Plus
(“EHCP”), a real estate fund advised by Elevation, has completed the acquisition of land and a forward
funding agreement to support the development of two new, state-of-the-art, care homes in Oadby,
Leicester and Humberston, North-East Lincolnshire, covering 132-beds with Tanglewood Care Homes
(“Tanglewood”). Once built, the homes will be let to Tanglewood.
Tanglewood is the leading operator in Lincolnshire and has thirty years of track record providing great
care and support for over 400 residents. Tanglewood has been recognised in recent years for its
innovative approach to residential care, receiving multiple awards and recognition for training
initiatives and community facilities.
The homes will be built to best-in-class standards with full en-suite wetrooms and strong
environmental credentials. The properties, which will create 60-80 jobs for the local community, will
be let to Tanglewood on a long-term lease with RPI-linked escalator with cap and collar.
Andrea Auteri, Managing Partner at Elevation said: “We are pleased to expand our partnership with
Tanglewood with a further two developments. Both the operational and development teams at
Tanglewood continue to deliver and Elevation are thrilled to help support their growth.”
Karen Whitehead, Development Director at Tanglewood said: “We were delighted to complete the
deal between Tanglewood and Elevation for the development of two further care homes in
Humberston and Oadby. The last two years have been an exciting time for Tanglewood Care
Homes. We have completed one home that is now operational and we are on site with four other
care homes. We enjoy a good relationship with Elevation and look forward to working together on
further schemes in the future.”