H/2 Capital closes in on £400m Four Seasons rescue deal, report


US hedge fund H/2 Capital is closing in on a deal to buy 185 of Four Seasons’ 320 homes, according to a press report.

Sky News said Four Seasons’ leading creditor has also pledged to guarantee the running of the remaining 135 leasehold homes until a sale is concluded.

Speaking to the FT, Knight Frank head of healthcare, Julian Evans said the deal represented a “major turnaround opportunity”.

“The portfolio needs stabilising and H/2 acquiring the assets is welcome news both to Four Seasons but also UK social care,” he said.

Sky News said the deal between the two parties is expected as soon as Thursday next week.

It is reported to be worth around £400m or less than half the £825m Four Seasons was sold for seven years ago.

Four Seasons employs around 22,000 people and provides care for around 17,000 residents.

The care home provider was put up for sale after its holding companies went into administration in April (see BREAKING NEWS: Administrators appointed at Four Seasons’ holding companies).

A number of potential bidders have been reported to be interested in the care home provider (see US hedge fund amongst potential Four Seasons bidders).

Professional services firm Alvarez & Marsal Europe LLP was chosen to handle the administration. The Four Seasons sale is being handled by BDO.


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