Broadwood Capital completes brace of later living funding deals

By Bridging Loan Directory 6th September 2024

Broadwood Capital, alternative lender to real estate investors and developers, has completed on £15mn of funding in the Later Living sector, with two loans secured by care homes located in the UK.

The first loan was a £13mn development finance facility to Simply UK to support the ground up construction of a purpose built, 3 storey care home, compromising 60 ensuite bedrooms in Uxbridge, London.

The luxury care facility will provide residential, nursing and dementia support, along with exceptional amenities for the residents.

Thomas Meaney, investment manager at Simply UK said:

“This is the third loan we have completed with Broadwood in the past two years.

The team has a detailed understanding of both the care sector and construction, which is essential to support us as developers.

Uxbridge will be a flagship addition to the Simply portfolio and we are looking forward to working with Broadwood on delivering this prime asset in West London.”

The second loan was a £2mn acquisition facility to support MACC Care Group on the purchase of a site in Staffordshire, where it will look to deliver an 80-bed purpose-built care home.

Dan Smith, CEO of Broadwood Capital commented:

“The Later Living sector remains a key focus for Broadwood Capital.

The aging demographic in the UK continues to create huge pressures on a sector which is undersupplied, and we are very proud to be able to support the construction and development of much needed new facilities.

Simply UK and MACC Care Group have extensive development and operating track records in the later living sector, with Broadwood looking to support best in class operators and developers”

Broadwood has now funded c. 300 beds in the Later Living sector through six loans totalling c. £30mn with loans to property encompassing care, assisted living and retirement living.