The six care homes of the Lincolnshire-based company were sold to Elevation Healthcare Properties and M&G Care.
However, the care homes will continue to be operated by Tanglewood.
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Tom Morgan, head of CBRE Healthcare, said: “This sale will allow Tanglewood to focus on growth as an operator and for continuity of care and employment for both residents and staff.
“We were pleased to secure a sale to two funds with such strong track records in this sector.”