Global law firm Reed Smith has advised long-term client Reuben Brothers on the acquisition of Avery Healthcare, one of the preeminent care providers in the senior living sector in the UK, as well as the entry into a 50/50 joint venture partnership with Welltower.
Avery Healthcare currently has over 60 care homes under management and represents the first Reuben Brothers’ investment into the senior housing sector.
The joint venture partnership with Welltower is expected to generate significant future growth opportunities through the development of the next generation of seniors housing properties by leveraging Reuben Brothers’ real estate investment and development acumen and Welltower’s unparalleled data analytics platform and leadership within the seniors housing industry.
The Reed Smith team was led in London by Global Corporate Group partner Samantha Roberts and global head of Real Estate, Jimmy Theodorou.
The Reuben Brothers are longstanding clients of Reed Smith, with the firm having advised on the acquisition of Newcastle United Football Club, the purchase of the famous Burlington Arcade, and the acquisition of multi-let office premises at 27 Knightsbridge, London in the last few years.
Samantha Roberts said: “We are delighted to have supported the Reuben Brothers on this strategic acquisition that will complement the existing portfolio and represents a significant investment in the healthcare sector.”
