City law firm GSC Solicitors LLP has announced that it advised longstanding client CareTech on a £200m property portfolio sale and leaseback investment by Civitas Investment Management (CIM), the UK’s largest specialist care investor.
The portfolio comprises special schools, children’s homes and adult specialist care homes and follows the £1.1bn public to private acquisition of CareTech by its co-founders in September 2022.
Founded in 1993, CareTech provides specialist social care services to 5,000 adults and children with a range of complex needs in more than 550 schools, residential services, hospitals and day centres. It employs more than 11,000 staff in the UK and internationally.
CIM is the UK’s largest investor in specialist care with over £3.5bn under management in community healthcare and social infrastructure in the UK and Europe. It manages over 1,200 properties across the UK, providing homes for more than 10,000 people, with support provided by over 120 operators in a combination of supported housing and residential care homes.
Commenting on the deal, GSC senior partner Saleem Sheikh said: “This transaction illustrates the long-term demand for high-quality specialist care properties in the UK and will form part of CareTech’s strategy to grow in the UK, investing in digital technologies and international markets.’
The GSC team was led by senior partner Saleem Sheikh and included commercial real estate partners, Harvey Posener and Matthew Phillips, corporate partner, Clive Halperin and international private wealth partner, James Cohen. Civitas was advised by Norton Rose Fulbright.
