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£11.5m refinancing of converted office block secured for complex ownership structure
Silbury provides additional £33 million loan for 292-home Old Kent Road residential scheme, taking total facility to £101 million
Construction starts on £140m 24-storey Battersea tower
Atom has made improvements to its care homes criteria to accept less experienced applicants in the sector. The change has been made to address a gap in the market and support a vital sector which has seen capacity falling. The required criteria include a stressed debt service cover of 145% minimum, a maximum 70% LTV, good/outstanding CQC rated homes and 90% or more average occupancy over the last six months.
A strong, experienced existing management team must also remain in situ post-purchase in order to be considered. “We know the care home sector is facing a range of challenges at the moment. Their services are vitally important to the UK, yet they are drastically underserved by lenders, particularly when it comes to helping much needed new operators enter the market." said Tom Renwick, head of business banking at the lender.
Call Trinity Specialist Finance to secure funding on 020 7016 6151 or book a consultation R03;R03;R03;R03;R03;R03;
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