Beaufort provided two facilities to fund two separate retirement living projects for the same borrower.
The first facility was utilised to refinance the development lender on a recently completed 53-unit scheme in Greater London. The second facility will fund the construction works of a 52-unit project in Surrey which will be completed in 2024.
Once completed the two schemes will have a combined value in excess of £80m and provide much needed high-spec retirement accommodation to the local communities.
The borrower is an experienced developer and a market leader within the retirement living sector.
ESG: The design of the buildings includes green walls and together with a net increase in the quantity of trees on both sites will support local wildlife. Energy saving features have been incorporated into the build and both sites have provision for electric car charging. Additionally, 24 full time jobs will be created once both sites are fully operational.