LNT Care Developments secures funding for three new care homes
LNT Care Developments, which specialises in care home development and operation, has secured funding from Shawbrook Bank to drive the construction of three 66-bed care homes.
LNT has a wealth of experience in the industry, having built more than 200 homes across more than 30 years, with over 20 schemes currently in progress. LNT will be building these new sites as part of its new Danforth operating entity. With a facility capable of funding three care homes, this development marks a significant milestone as the largest singular deal backed by Shawbrook’s Development Finance Team.
Shawbrook’s Development Finance and Healthcare teams worked closely together to develop an innovative funding solution for LNT. The package brings the development and the operating funding under one roof, providing simplicity for the client and ensuring funds are more easily accessible throughout the build programme.
Representing a significant stride forward for Shawbrook, this deal provides a combined five-year facility that will support not only the project’s construction, but also extends its assistance over a continuous trading period post-practical completion to build occupancy and reach trading maturity.
Matt Lowe, CEO of LNT, said: “We are delighted to have secured support from Shawbrook. The teams at Shawbrook were able to offer a bespoke facility to enable us to drive forward our commitment to building the country’s leading care home portfolio.
“It was important for us that they provided a facility which not only enabled the construction of three new homes, but also supported the operational side of the business once construction of the care home is complete.
“It was great to work with a team who combined their knowledge in development and healthcare to structure a transaction in a way that worked for all parties. We have established a strong relationship with Alastair, Christos, Dasos and the Shawbrook team, and look forward to working together in the future.”
Alastair Partridge, Senior Relationship Director at Shawbrook says: “We are thrilled to announce this collaboration between LNT Care Developments and Shawbrook to build three new care homes.
“LNT have a wealth of specialist experience developing leading care facilities and are one of the most recognisable names in the industry. This deal serves as a big leap forward for Shawbrook, and we look forward to seeing the progress of the developments.
“Despite being a new-to-bank client, we have forged a strong relationship with LNT and hope to build on this in the future.”