Specialist lender Leumi UK has refinanced two more luxury care homes for longstanding client Cinnamon, increasing total facilities to £42.5 mln (€50 mln).
In addition to Lakeview Grange in Chichester and Heathland House in Dorset which were refinanced in 2023, the new funding refinances Watermeadow Grange in Exeter and The Gables in Worcestershire, bringing the total portfolio funded by Leumi UK to 251 beds.
The latest round of funding amounts to £23 mln.
Guy Brocklehurst, relationship director at Leumi UK, said: 'Leumi UK is delighted to extend our relationship with Cinnamon.
'This new funding is another example of our continued support of the Social Care sector, providing state-of-the-art residential and specialist dementia care beds for the local community.'
Stuart Norris, commercial director at Cinnamon, said: 'Cinnamon is pleased to have completed the refinance of our latest luxury care home openings.
'Leumi UKs excellent track record, long-term outlook and specialist expertise in healthcare property made it an easy decision to expand our relationship.'
Professional advisors Osborne Clarke, Travers Smith and Knights supported the deal.
