OakNorth Bank has arranged a £42m loan to a later living investor to develop 84 retirement homes in a purpose-built village in south-east England.
The retirement village will feature extensive health and recreational amenities including a spa and treatment rooms, pool, gym, lounge bar, library and restaurant.
Details of the vertically-integrated investor, developer and operator were not disclosed. The finance deal was advised by CBRE’s Debt & Structured Finance team, part of CBRE Capital Advisors.
In addition, OakNorth Bank has completed a £6m loan to Chalk Lane Properties Limited, which is led by the team behind Gage Properties.
The capital will be used to convert the Chalk Lane Hotel into The Chalk Lane Residences – a new 21-unit luxury residential scheme in Epsom, Surrey.
Combining the heritage of the former hotel building’s history together with modern interiors and contemporary specification, the new scheme will consist of 21 one to four-bedroom apartments.
OakNorth Bank has also signed off on a loan to Birmingham developer Macc Care to build a new care home in Blythe Valley Park, a mixed-use business and leisure development on the edge of Solihull.
The 55,000 square feet development will comprise 80 bedrooms, a lounge and dining space, a cinema, hair salon, an activity room, and dozens of parking spaces.
Details of the loan were not disclosed.
