Operating Care Home Portfolio
- 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.