London:
  • Finance:

    Operating Care Home Portfolio

  • Loan Amount:

    £13m

  • Year:

    2019

  • Client:

    Joint Venture

  • JV partnership formed to acquire a mid-market operating care home portfolio located across the UK, predominantly in the south-east.
  • The partnership will inject equity to modernise the homes and increase occupancy across the portfolio.
  • BBS Capital was instructed to arrange an investment facility to assist in the acquisition of the portfolio.
  • The challenge was to engage with a lender that understood the repositioning strategy as well as the wider care market, a sector that isn’t always looked upon favourably.
  • We were able to negotiate a competitive facility for our client at c. 63% LTV over a 5-year term.
  • We also negotiated the flexibility of staged covenants and a 24-month interest only period to allow our clients the freedom to deliver their strategy.