LNT has secured a £123.5m development facility from Beaufort Capital to fund the delivery of at least a dozen care homes over the next two years.
This is the second portfolio facility completed by Beaufort Capital and LNT in the past two years.
Mark Quigley, managing director – UK real estate finance, at Beaufort Capital, said: “Beaufort Capital is delighted to be increasing the funding partnership with the healthcare sector’s leading developer/operator, LNT Care Developments Group. We continue to be impressed with its rigorous approach to site selection, vertical integration, innovative design and technology, coupled with decades of sector experience, having delivered hundreds of care homes across England.
“There is an acute shortage of modern fit-for-purpose care beds across many parts of the country, and Beaufort Capital is committed to helping address this critical piece of social infrastructure. Beaufort Capital finances in excess of 1,000 new care home beds per annum, and we expect this figure to grow over the coming years, as we continue to support the sector, working with best-in-class operators across the UK.”
Matt Lowe, chief executive officer of LNT, added: “The ever-increasing growth in demand for high quality care as a result of an ageing UK population, coupled with a systemic undersupply of suitable provision, continues to drive a significant requirement for new, purpose-built care homes to be developed over the coming years. At LNT we are committed to ensure that every community in the country has a truly great place for their loved ones to live, work and visit.
“We are currently progressing our sixth scheme with Beaufort Capital, and look forward to expanding our relationship further with this new facility. George, Mark and the wider team’s collaborative approach has made the process straightforward, allowing us to continue to deliver our ESG-forward solution to improving the quality of care facilities across the country.”
