Broadwood Capital has completed two loans totalling £15m to later living providers.
The firm has agreed a £13m development finance facility with Simply UK to support the ground up construction of a purpose-built, three-storey care home, compromising 60 ensuite bedrooms in Uxbridge, London.
Broadwood has also agreed a £2m facility to support MACC Care Group on the purchase of a site in Staffordshire, where it will look to deliver an 80-bed, purpose-built care home.
Thomas Meaney, investment manager at Simply UK, said: “This is the third loan we have completed with Broadwood in the past two years. The team has a detailed understanding of both the care sector and construction, which is essential to support us as developers. Uxbridge will be a flagship addition to the Simply portfolio and we are looking forward to working with Broadwood on delivering this prime asset in West London.”
Dan Smith, CEO of Broadwood Capital, added: “The Later Living sector remains a key focus for Broadwood Capital. The aging demographic in the UK continues to create huge pressures on a sector which is undersupplied, and we are very proud to be able to support the construction and development of much needed new facilities. Simply UK and MACC Care Group have extensive development and operating track records in the later living sector, with Broadwood looking to support best in class operators and developers.”
