Leumi UK has provided a £100 million revolving credit facility to LNT Care Developments to support the expansion of its UK care home portfolio.
The facility is the real estate lender’s largest healthcare financing to date and extends its relationship with LNT, which is described as the UK’s largest care home developer.
LNT has developed more than 250 sites, accounting for more than 16,500 beds. The additional funding will support its aim to build a further 15 to 20 care homes over the next three years.
The revolving credit facility will provide funding for land acquisition, development and investment activity across LNT’s pipeline.
It will initially support five schemes, comprising 330 beds in total, delivered through LNT’s standardised, vertically integrated operating platform.
The assets are located in Wymondham, Norfolk; Bourne, Lincolnshire; Braunton, Devon; Thornbury, Gloucestershire; Hooton, Cheshire; and Newcastle Great Park, Tyne & Wear.
Leumi UK said the care home market was supported by supply and demand trends, with new supply constrained by rising development and operating costs, while much existing stock is outdated.
Matt Lowe, CEO at LNT Care Developments, says: “We are thrilled to build on our trusted partnership with the Leumi UK team, whose support gives us the flexibility we need to deliver our pipeline of new sites.
“We have ambitious growth plans and Leumi UK is an important funding partner as we continue to develop high-quality, best-in-class care facilities across the UK.”
Guy Brocklehurst, relationship director at Leumi UK, adds: “LNT is a leading care home developer with a proven operating model, and we look forward to working with the business as it continues to expand its portfolio.
“This landmark transaction for Leumi UK represents our largest healthcare facility to date and demonstrates our ability to tailor financing solutions that support a top-tier, scalable platform.
“It reflects the strength of our relationship with LNT as well as our conviction in the long-term prospects for the care sector in the UK.”
