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Canada Life AM funds £20m UK care home project | News
Life Asset Management in Canada financed a £20m (€23.6m) luxury care home project in the UK developed by Frontier Estates.
The investment manager is financing Wellford Gardens, the 65-bed asset in Wheatley, near Oxford, leased for 40 years to The Orders of St John Care Trust.
Michael White, head of UK properties at Canada Life Asset Management, said: “We are pleased to support The Orders of St John Care Trust to provide high quality care to those who need it most, and at a time when the number of The number of people in the UK aged over 85 is expected to increase significantly in the coming years.
“This transaction also demonstrates Canada Life Asset Management’s ability to provide capital to support important projects in local communities. We look forward to continuing our relationship with the teams at Frontier Estates and The Orders of St John Care Trust.”
Mike Mansell, director of Frontier Estates, said: “We are very proud to have undertaken this entire project and are very pleased with the end result. We use our unique experience in the healthcare market to lead and revolutionize the way home care environments are being delivered in the UK.”
Tracey Wardle, CFO of The Orders of St John Care Trust, said: “We are proud to open the doors to our newest home, Wellford Gardens. Significant investment in luxurious environments, innovative care technologies and dedicated care and hospitality teams demonstrates our commitment to fostering a welcoming environment where every resident can thrive and feel valued, supported and cared for.”
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