We are delighted to have provided a pre-development bridging loan of £16.4 million to finance the acquisition of two care home development sites in Essex and London for a term of 15 months. The facility was agreed upon and completed in around six weeks to meet the borrower’s tight timescales.
Planning consent has been granted for two modern purpose-built elderly residential care homes with a total of 190 ensuite rooms. We will work alongside the operator to convert the bridging loan into a development loan.
As a market-leading healthcare investor, Downing continues to accelerate growth in this needs-based market which is generally underserved and fragmented. Additionally, the elderly residential care sector aligns perfectly with our environmental, social and governance (ESG) principles and targets.
Downing Development Capital is an award-winning investor focused on investment opportunities into asset-backed operating businesses with downside protection. Typical sectors we look at include healthcare, specialist education, hospitality, leisure and IT infrastructure.