PRESS RELEASE
14 March 2025

Travers Smith Advises Two Healthcare REITs In Takeovers By US Bidders

TS
Travers Smith LLP

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It’s not just law at Travers Smith. Our clients’ business is our business. Independent and bound only by our clients’ ambitions, we are wherever they need us to be. We focus on key areas of work where we are genuinely market leading. If it’s hard – ask Travers Smith.
Travers Smith is currently advising two healthcare REITs - Care REIT plc and Assura plc - on their public takeovers by US bidders, further highlighting the recent theme of consolidation in the London REIT market.
United Kingdom

Travers Smith is currently advising two healthcare REITs - Care REIT plc and Assura plc - on their public takeovers by US bidders, further highlighting the recent theme of consolidation in the London REIT market.

Care REIT plc, which owns and manages a portfolio of care homes and other healthcare properties around the UK, has announced its recommended £448m cash offer from NYSE-listed CareTrust REIT, Inc., whose portfolio spans 34 states in the US, with over 400 net-leased properties, approximately 43,000 operating beds/units, and 34 operators.

Assura plc, which develops, invests in and manages a portfolio of healthcare buildings across the UK, has also confirmed that it has received a possible cash offer valued at £1.607bn from a consortium comprised of long-term infrastructure investors, KKR and Stonepeak Partners, and a possible all-share merger offer from Primary Health Properties plc (which has been rejected).

The Travers Smith team on both deals is being led by the Head of TransactionsAaron Stocksand PartnerBen Lowen, supported by PartnerJon Reddington, Senior CounselsStuart MackenzieandJoe Knox, AssociatesSylvia MuellerandWill Rann, and TraineeArnav Maru. Specialist advice is being provided by PartnersNigel Seay,Sarah Walker,John Buttanshawand Senior AssociatesChris TowlandandHarrie Narain.

Contributor

It’s not just law at Travers Smith. Our clients’ business is our business. Independent and bound only by our clients’ ambitions, we are wherever they need us to be. We focus on key areas of work where we are genuinely market leading. If it’s hard – ask Travers Smith.

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