- The £31m facility is to the Broadwood Later Living Sustainable Construction Finance Fund (“Broadwood LLSCF Fund”) and will support the development of three new care homes in London, Staffordshire and Lancashire;
- The three care homes will deliver a combined 250 new care home beds into a market experiencing a chronic under supply;
- OakNorth has been a long-term partner of Broadwood since its inception in 2022, completing multiple transactions totalling over £70m of senior back leverage to date between Broadwood and its CEO, Dan Smith.
Tuesday 2nd September, 2025; London, UK: OakNorth, the digital bank for entrepreneurs, by entrepreneurs, has completed loan-on-loan facilities, totalling £31m, to Broadwood LLSCF Lending 1 Ltd, a real estate credit fund backed by Broadwood Capital and Aviva Investors. The capital from OakNorth has enabled the fund to support three new care home developments delivering 250 care beds.
The three care homes are all purpose built, provide 100% ensuite wet rooms, meet the sustainability criteria required of Broadwood LLSCF Fund and are in strong UK locations where there is high demand for new build care homes. Eash of the three customer loans are to separate sponsors, all specialist care home developers and operators.
Dan Smith, CEO of Broadwood Capital, commented on the transaction: “The UK’s rapidly ageing population, structural shortfall in specialised later living housing, and limited availability of construction finance, means there is significant growth potential in the Broadwood LLSCF Fund. OakNorth has been a long-term and supportive funding partner of ours and we value its commercial, entrepreneurial, responsive, and collaborative approach. OakNorth’s roots as a founder and entrepreneur-led bank align with Broadwood’s culture and approach, making them an ideal partner. We see this initial £31m facility as the first step in a larger relationship for Broadwood LLSCF Fund as we secure additional investor commitments for our strategy.”
Priya Chauhan, Director of Debt Finance at OakNorth, continued: “We have supported Broadwood since its inception, and have always appreciated the team’s depth of experience in development finance, their institutional approach to credit risk and underwriting, and their strong and efficient governance, which together ensures decisions are reached on a detailed and informed basis. Broadwood’s highly experienced principals, led by Dan Smith and James Tarry, have deep knowledge across all aspects of real estate development and investment finance, and just like at OakNorth, there is a focus on optimising customer outcomes. We look forward to continuing to support Broadwood on future transactions.”
ENDS
Notes to editors
About OakNorth
Launched in September 2015 and founded by entrepreneurs, OakNorth is a digital bank focused on serving and empowering the lower mid-market (businesses with £1m-£100m in turnover), that are seeking to scale but are routinely underserved or overlooked by traditional banks.
To date, it has provided $17bn to these businesses across a wide range of sectors, achieving performance metrics that place it amongst the top 1% of commercial banks globally. Its loans have directly contributed to the creation of 61,000 jobs, and over 36,000 new homes across the UK and the US – the majority of which are affordable and social housing.
It is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.
Visit www.oaknorth.co.uk for more information.
For press inquiries, please email: [email protected]
About Broadwood
Broadwood Capital was founded by Dan Smith in 2022, with the mission of providing mid-sized and mid-term funding solutions to property investors and developers. Broadwood provides first charge loans, with a particular specialism in complex financings, development & construction and alternative asset classes.
The Broadwood Later Living Sustainable Construction Finance Fund is a regulated investment fund dedicated to providing construction loans to support the development of later living real estate in the United Kingdom
Visit: www.broadwood.capital for more information
For all Broadwood Capital enquiries please contact: [email protected]