Fortwell Capital

Fortwell Capital increases debt facility for care home pipeline to £70m

Fortwell Capital has increased the debt facility it has made available to LNT Care Developments to £70m.

The residential care home developer will use the facility to finance the construction of its pipeline of care homes — which is estimated to include circa 1,300 beds across around 20 care homes — over the next three years.

Fortwell Capital had provided a debt facility to LNT in 2014, with an agreement reached in 2018 to extend the facility until 2021.

It has now advanced the developer more than £100m for the construction of 25 care homes, consisting of over 1,500 beds.

“Alongside retirement living residential, this is something that will continue to be a key area of focus for Fortwell Capital,” said Dan Smith, chief executive officer at Fortwell Capital.

Matt Lowe, chief executive officer at LNT, added: “There is a vital and growing need for more care bed capacity across the whole of the UK, but the sector can be a challenge for lenders.

“Through Fortwell Capital, we not only have the finance necessary to fund our growth, but also access to a team that understands our business, is flexible in their approach, and a knowledgeable partner in the development process.”

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