The two development loans provided £14.6m for a new 131-bed home in West Yorkshire, and £9.3m for a 60-bed home in Cheshire.

Work has started on Athena Healthcare Group’s new care home in West Yorkshire, following the £14.6m development loan from Atelier, the 131 single bedrooms, each equipped with ensuite wet room facilities, have a target completion of April 2025.

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In a separate transaction with another UK wide care home operator, Atelier will provide a £9.3m loan to fund the construction of a 60-bed care home in Cheshire, built on the site of a former care home.

Martin Gilsenan, COO at Atelier (pictured above), commented: “We are delighted to be able to finance the construction of these new high quality developments in West Yorkshire and Cheshire.

“Care is an asset class that we understand well, where the underlying strength of the counterparties we partner with is particularly appealing, we are looking forward to strengthening our relationships with both borrowers in the months ahead.”