Cookie Error:

Cookies deactivated. To use all functions on this portal, for example the login, Cookies must be activated. Please activate Cookies in your browser settings.

News » UK
    Print Print 

Fortwell Capital provides £40mn loan facility to care home developer LNT

Fortwell Capital Limited has extended a revolving development finance facility it initially provided to LNT Care Developments Limited in 2014 by 3 years and increased the amount available to £40m (c.€45m). Since signing the original facility in December 2014, Fortwell has funded the acquisition and construction of 17 care homes across the UK, providing over 1,000 beds with a total value of circa £150m (c.€168m). “The loan to LNT continues our strong start to 2018 with £64m (c.€72m) of lending now completed in January, transactions which underline our continued focus of supporting and funding developers on larger and more complex real estate opportunities across a broad range of sectors”, said Dan Smith, executive director at Fortwall.

In addition to extending and increasing the facility, the amended loan permits LNT to undertake larger projects. This will also give LNT more flexibility to expand their core care home development activity to more areas of the country. The renewed facility is for a further 4.5 years and allows LNT to continue to develop their core care home offerings and to develop a single care home up to £15m (c.€16.9,) in value.