Broadwood Capital funds new Midlands care home development

Broadwood Capital, private credit investment manager specialising in real estate development finance, has completed a loan to MACC Care Group to fund the development of a new-build care home in Redditch, Worcestershire.

The loan supports the ground-up construction of a purpose-built care home, comprising 98 ensuite bedrooms, which will provide residential, nursing and dementia care.

The 1.3-acre site, which currently houses a vacant office building, has secured planning permission for the new care home facility scheduled for completion in early 2027.

The 21-month facility will be funded via the Broadwood Later Living Sustainable Construction Finance Fund as it meets key sustainability criteria with features such as fossil fuel free heating, EPC A, low embodied carbon and EV charging points.

Dan Smith, CEO of Broadwood Capital commented:

“MACC is an operator with a proven business model and clear market proposition, and we are happy to help play our part on its continued growth path.

This is yet another quality scheme in an under-served market and we’re pleased to help facilitate new development and adding to the pipeline of new care home provision”.

Naz Nathani, founder and CEO of MACC Care Group commented:

“This is our third loan with Broadwood which is a key supporter of MACC’s growth.

We value access to an experienced and knowledgeable funder which understands both the development process and the intricacies of the care home market”.

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