Blackfinch Property has concluded a £2m refinancing arrangement for an 18-unit supported housing complex in the West Midlands. The facility serves vulnerable individuals, offering them one-bedroom apartments for supported living.
The refinancing comes in the wake of the borrower’s renovation of an empty two-storey building, which now boasts improved Energy Performance Certificate (EPC) ratings. This project supplements the already limited availability of supported living accommodations in the area.
Blackfinch Property assesses all its investment prospects based on Environmental, Social and Governance (ESG) criteria. The 2-year refinancing agreement will allow the borrower to lease the property to a not-for-profit housing organisation. This move aligns with the lender’s focus on delivering significant social value and improving the quality of life for vulnerable tenants in the West Midlands.
John Hartigan, investment director for Blackfinch Property, said: “We are very pleased to continue our work with the borrower and their team, with whom we have previously had successful loans, and support their strategy to expand care and supported living facilities across the UK. We are focused on ensuring we can support and continue working with this important sector—providing important social value, and demonstrating the ‘s’ of ESG.”
