Puma Property Finance has provided loans totalling £31m to North Bay to fund the development of three UK care home.
The developments comprise a 66-bed care home in York, a 73-bed care home in Bowburn and a 74-bed care home in Preston. North Bay is targeting completion in Q4 20226.
Richard Hoggart, CEO of North Bay, said: “We are delighted to receive support from the team at Puma in building these care homes. They are set in fantastic locations and we look forward to providing our future residents with the very best that the care sector has to offer.”
Tony Throp, director and head of healthcare at Puma Property Finance, added: “We’re proud to continue our longstanding relationship with North Bay by supporting the development of three high-quality care homes across York, Bowburn and Preston. These schemes will deliver over 200 much-needed beds in areas facing significant shortfalls in en-suite wet room provision.
“With strong demand fundamentals and resilient performance characteristics, the care sector remains a key focus for us at Puma, and we’re pleased to be backing one of the UK’s top care operators as they expand their footprint.”
