Puma Property Finance has renewed its support for UK property developer Zephyr X by providing a £20m (€23.5m) loan for the development of new care homes.
Puma Property Finance is providing a £13m loan for an 80-bed new care home in Reigate, Surrey and a £7m loan for a new 45-bed care home in Whitchurch, Reading.
Tony Throp, director and head of healthcare at Puma Property Finance, said: “Both schemes will address the significant need for care beds in these micro locations, for example in Whitchurch and the surrounding areas there has been just one new scheme built in the last 13 years and 60% of the total stock built over 18 years ago.
“We have a long-standing relationship with Zephyr X, having worked with them on previous developments and this is a great opportunity to continue building on this relationship.”
Puma has to date supported four of Zephyr X’s care home developments.
Adam Faulkner, founder of Zephyr X, said: ”We are thrilled to embark on the renovation and development of these two new stunning care homes. Our vision is to create spaces that provide exceptional care and comfort for residents, reflecting the beauty and tranquility of their surroundings.
“We extend our thanks to Puma for their continued support in our development pipeline as we expand and bring this vision to life.”
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