The lender will be financing the modernisation and upgrade of a vacant purpose-built care facility.
The 30-month development loan, which follows the provision of a £9.8m site acquisition bridge facility, will assist with the construction cost.
The loan marks the firm’s third transaction with the borrower.
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Rav Kudhail, lending director at Atelier, commented: “We are pleased to work with our client, a UK wide care home operator, on this third transaction to fund the conversion and refurbishment of an existing asset.
“When completed, the scheme will be operated by our borrower and provide high quality care accommodation in the area.”
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