Monday February 7th, 2022 -
Providing bespoke finance to a leading real estate fund manager for a new dementia care home
The Challenge
With the number of people living with dementia in the UK projected to rise from 850,000 to 1.6 million by 2040, there is need to develop more specialist care homes. Frogmore, one of the UK’s leading real estate investment managers, had already seen great success with its first specialist care home, Chelsea Court Place, which was at 100% capacity with a full waitlist within a few months of opening. It was therefore looking for a funding partner who could work with it to quickly expand its portfolio and ensure it could meet demand.
Opportunity & Outcomes
Due to our expertise and experience providing structured solutions to the UK’s leading property investors and care home operators, we were the ideal funding partner for the project, providing Frogmore with a £26.3M loan to develop a 35-bedroom specialist dementia care home in the City of Westminster.
there is a clear need for new specialist dementia care homes in the borough which is why we’re delighted to be breaking ground on this new project and are grateful for OakNorth Bank’s ongoing support.