Octopus Real Estate, part of Octopus Investments and a leading UK specialist real estate lender and investor, has provided a framework loan to support the development of up to four care homes.
The revolving framework facility to LNT Care Developments (LNT) will provide development and stabilisation support, funding the development of up to four care homes at any one time. As part of this framework, the first loan will be provided to fund the development of a 66-bed care home in Bexhill, East Sussex.
As the leading provider of care homes in the UK, LNT has developed over £3.2bn of real estate assets, including over 200 care homes across the UK, providing more than 12,500 beds to the UK’s ageing population.
The care home development in Bexhill will be built to be operationally carbon zero, incorporating a significant photovoltaic array alongside ground source heat pumps and battery storage.
Nick White, Head of Development Origination, Octopus Real Estate, said:
“At Octopus Real Estate we are committed to funding a diverse development portfolio within the later living sector, so we’re thrilled to be supporting LNT on these projects. As the leading provider of care homes in the UK, the team are highly experienced, and we look forward to growing the framework to continue to support LNT as they deliver much-needed new care homes in the years to come.
“The Bexhill development aligns well with our sustainability mission and focus on delivering high quality, sustainable homes that are built for the future.”
Matt Lowe, CEO, LNT, concluded:
“Our mission at LNT is to provide every community across the country with a truly great place for their loved ones to live, work and visit. Our latest generation of operationally carbon-zero homes are our most ESG-forward yet, and we continue to innovate within our designs to suit the evolving needs of residents and operators.
“Nick and the Octopus team have significant experience in the care sector, so were able to create a bespoke flexible funding package specifically designed for our requirements.”