£23m refinance deal secured for luxury care homes portfolio

Leumi UK has refinanced two luxury care homes, Watermeadow Grange in Exeter and The Gables in Worcestershire, for its client Cinnamon, adding £23m to the client’s portfolio.

The total facility provided for Cinnamon has now reached £42.5m and includes 251 beds across the two schemes as well as Lakeview Grange in Chichester and Heathland House in Dorset, which underwent refinancing in 2023.

Advisors Osborne Clarke, Travers Smith, and Knights facilitated the refinance.

Guy Brocklehurst, relationship director at Leumi UK, said: “Leumi UK is delighted to extend our relationship with Cinnamon. This new funding is another example of our continued support of the Social Care sector, providing state-of-the-art residential and specialist dementia care beds for the local community.”

Stuart Norris, commercial director at Cinnamon, said: “Cinnamon is pleased to have completed the refinance of our latest luxury care home openings.  Leumi UK’s excellent track record, long-term outlook and specialist expertise in healthcare property made it an easy decision to expand our relationship.”