The LGIM facility totals £100m while the Sun Life loan is £50m — £25m in aggregate was drawn at completion of the facilities with the remaining £125m available for general corporate purposes, including the development of additional homes in the coming years.

Anchor is a not-for-profit provider for people aged 55 years and over — the company is planning to increase the number of energy efficient homes it provides through development and care home acquisition.

Through its development programme, Anchor anticipates delivering an average of at least 500 homes a year over a rolling 10-year period in addition to growing the number of homes for people in residential care.

Centrus acted as financial advisor and arranger on the transactions, while Devonshires Solicitors LLP acted as legal counsel to Anchor and Greenberg Traurig LLP acted as investor legal counsel to LGIM and Sun Life.

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Amanda Holgate, CFO at Anchor, commented: “These facilities will help us to continue to increase our provision of affordable and energy-efficient homes for people in later life.

“We anticipate ongoing strong demand as, with an ageing society, the need for such properties has never been greater.”

Steve Bolton, Head of corporate private credit at LGIM, said: “We’re really pleased to strengthen our partnership with Anchor, helping them to create more specialist housing across the UK for those in later life.

“Institutional investment can play an important role in helping to address societal challenges, and organisations like Anchor provide an enormous contribution in terms of social value.”

 Nushi Kazemian, managing director of private fixed income at Sun Life Capital, added: “We are pleased to have closed this shelf facility financing with Anchor, and look forward to being a long term funding partner assisting them in achieving their goals.”