Birchgrove has secured a senior loan facility from Cynergy Bank to support two senior living assets in Leatherhead and Mill Hill while they achieve stabilised occupancy.
The financing took six weeks from credit approval to completion and the transaction adds to Cynergy Bank’s growing portfolio of operational real estate assets, senior living and broader healthcare sectors.
Aharon Donaghy, director at Cynergy Bank, said: “This transaction demonstrates our continued commitment to supporting high quality operators in the senior living sector. Birchgrove has built a strong reputation as a market leader in delivering premium integrated retirement communities, and we are pleased to provide a financing structure that supports the continued growth of its portfolio.”
Raphaël Koifman, chief financial officer at Birchgrove Assisted Living, added: “It was a pleasure dealing with the Cynergy team during this financing. Cynergy Bank’s pragmatic and solutions-focused approach, combined with its ability to deliver at speed, made it the right partner for this transaction. The financing enables us to refinance two of our high quality assisted living assets, supporting the growing demand for purpose-built later living communities across the UK.”
