Leumi UK has provided a £100m revolving credit facility (RCF) to LNT Care Developments to support the expansion of its nationwide portfolio of care homes.
The RCF will provide flexible funding across land acquisition, development and investment activity within LNT’s pipeline. It will initially support five schemes, comprising 330 beds in total, all delivered through LNT’s standardised, vertically integrated operating platform.
To date, LNT has developed more than 250 sites, providing more than 16,500 beds, and with this additional firepower it aims to build a further 15 to 20 care homes over the next three years.
Matt Lowe, CEO of LNT Care Developments, said: “We are thrilled to build on our trusted partnership with the Leumi UK team, whose support gives us the flexibility we need to deliver our pipeline of new sites. We have ambitious growth plans and Leumi UK is an important funding partner as we continue to develop high quality, best-in-class care facilities across the UK.”
Guy Brocklehurst, relationship director at Leumi UK, added: “LNT is a leading care home developer with a proven operating model, and we look forward to working with the business as it continues to expand its portfolio. This landmark transaction for Leumi UK represents our largest healthcare facility to date and demonstrates our ability to tailor financing solutions that support a top-tier, scalable platform. It reflects the strength of our relationship with LNT as well as our conviction in the long-term prospects for the care sector in the UK.”
