Cantor Fitzgerald successfully raises €1.55m for ACR Healthcare Limited under EIIS 2016
Cantor Fitzgerald successfully raised €1.55m for ACR Healthcare Limited under the Employment & Investment Incentive Scheme 2016 (EIIS). Funding was to assist in the acquisition and development of a nursing home in Temple Michael, Longford. The total cost of the nursing home was €12.1m which was funded by way of €3.1m joint EIIS investment raised through Cantor Fitzgerald clients and the BDO Davy EII Tax Relief Fund 2015, €8.25m senior loan facility from Bank of Ireland and €750k promoter/vendor contribution.
The nursing home is a modern purpose-built facility currently with 100 beds providing accommodation for 107 residents. Facilities are of a high standard with the nursing home benefiting from a specialist dementia care unit. The nursing home has a history of consistent and profitable trading with occupancy levels averaging 98% over the last 4 years. The promoter intends to expand the facility in the coming year by adding 6 additional rooms.