£50m care home funding deal announced by care group Maria Mallaband

The Maria Mallaband Care Group Ltd (MMCG) has announced a £50m care home funding deal with Apache Capital Partners.

The funding will enable up to eight luxury five star care homes to be developed under the MMCG brand.

Apache Capital Partners is a London and Bahrain based real estate investment management firm that has partnered with MMCG as part of its growing social infrastructure investment platform.

Richard Jackson, founder and partner of Apache Capital Partners, said: “We look forward to developing a long term relationship with Maria Mallaband Care Group. The acquisition marks a significant development in our Social Infrastructure Platform”

The first care home created from the development will be a 53-bed care home in Gerrards Cross, Buckinghamshire.

The £6.7 million development will provide high specification premium care for residents requiring dementia, nursing and residential care. The home will benefit from spacious en-suite rooms for residents and facilities including a visitor’s café, cinema room, salon and library.

Phil Burgan, founder, chairman and CEO of Maria Mallaband Care Group, said: “We are delighted to announce this funding partnership with Apache Capital Partners and very excited about the development opportunities it brings. The MMCG brand is synonymous with first class care and 5-star facilities and this deal will allow us to continue to grow our presence across the UK. I would like to thank Apache and their investors, for their efforts and belief in MMCG and we look forward to the creation of 8 ‘best in class’ care homes in the near future.

“MMCG currently own 57 per cent of its total portfolio and while we intend to maintain this ratio by funding some future projects in a more traditional way, it is very important to supplement our growth with a quality external partner such as Apache.”

Mr Jackson, of Apache Capital Partners, said: “We are excited to be backing a management team and operational platform of the highest caliber, whom will no doubt become one of the leading national luxury care operators in the UK.”