Specialist real estate lender Octopus Real Estate has provided a framework loan to LNT Care Developments to support the development of new care homes.
The facility to LNT will fund the development of up to four care homes at any one time, beginning with the development of a 66-bed care home in Bexhill, East Sussex.
To date, LNT has developed over £3.2bn of real estate, including over 200 care homes across the UK, providing more than 12,500 beds. The care home development in Bexhill will be built to be operationally carbon zero, incorporating solar panels alongside ground source heat pumps and battery storage.
Nick White, head of development origination at 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.”
LNT CEO Matt Lowe commented: “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.”