London, 21 May 2019
Fortwell Capital, principal lender to developers and investors within the UK real estate sector, has increased the debt facility it has made available to LNT Care Development to £70 million.
LNT, the UK’s leading purpose-built residential care home developer, will use the increased facility to finance the construction of their its pipeline of care homes over the next three years, which is estimated to include c.1,300 beds across around 20 care homes.
Fortwell Capital first provided a debt facility to LNT in 2014, since when it has advanced the developer over £100 million for the construction of 25 care homes, incorporating over 1,500 beds. An agreement was reached in 2018 to extend the facility until 2021.
The loan is the fifth major facility Fortwell Capital has written in the past three months, bringing the amount of capital deployed by the lender since February to more than £200 million.