LNT Care Developments has secured funding from Shawbrook Bank to drive the construction of three 66-bed care homes.
LNT will build these new sites as part of its Danforth operating entity.
With a facility capable of funding three care homes, this development is the largest singular deal backed by Shawbrook’s development finance team.
The package brought development and the operating funding under one roof, providing simplicity for the client and ensuring funds are more easily accessible throughout the build programme.
Matt Lowe, CEO of LNT, said: “We are delighted to have secured support from Shawbrook.
“The teams at Shawbrook were able to offer a bespoke, facility to enable us to drive forward our commitment to building the country’s leading care home portfolio.”
He continued: “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.
“We have established a strong relationship with Alastair, Christos, Dasos and the Shawbrook team, and look forward to working together in the future.”
Alastair Partridge, senior relationship director at Shawbrook, added: “We are thrilled to announce this collaboration between LNT Care Developments and Shawbrook 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 Shawbrook, and we look forward to seeing the progress of the developments.
“Despite being a new-to-bank client, we have forged a strong relationship with LNT and hope to build on this in the future.”
Christos Christodoulou, senior director, healthcare finance at Shawbrook, said: “This is a fantastic example of the innovative and collaborative way that we work at Shawbrook.
“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.
“We’re delighted to have worked on this deal with LNT and are excited to see the developments take shape.”
