Funding package secured to develop care homes

Leeds-based LNT Care Developments has secured funding from Shawbrook Bank to drive the construction of three 66-bed care homes.

LNT has built more than 200 homes across more than 30 years, with over 20 schemes currently in progress.

It will be building these new sites as part of its new Danforth operating entity. The facility is the largest singular deal backed by Shawbrook’s Development Finance Team.

The deal provides a combined five-year facility which will support not only the project’s construction, but also extends its assistance over a continuous trading period post-practical completion.

Matt Lowe, CEO of LNT, said: “We are pleased to have secured support from Shawbrook. They were able to offer a bespoke, facility to enable us to drive forward our commitment to building the country’s leading care home portfolio.

“It was important for us that they provided a facility which not only enabled the construction of three new homes, but also supported the operational side of the business once construction of the care home is complete.

“It was great to work with a team who combined their knowledge in development and healthcare to structure a transaction in a way that worked for all parties.”

Alastair Partridge, senior relationship director at Shawbrook, said: “We are thrilled to announce this collaboration between ourselves and LNT Care Developments to build three new care homes.

“LNT have a wealth of specialist experience developing leading care facilities and are one of the most recognisable names in the industry.

“This deal serves as a big leap forward for us, and we look forward to seeing the progress of the developments.”

Christos Christodoulou, senior director, Healthcare Finance at the bank, added: “This is a fantastic example of the innovative and collaborative way that we work.

“This deal brought together the expertise and experience of both the Development Finance and Healthcare Finance teams, allowing us to fulfil all the client’s needs, from the first spade in the ground to full operation.”