Assetz Capital has funded Curaa’s acquisition of Broome End Care Home in Stansted.
Broome End, which is made up of 29 single and three double rooms, caters for 35 people, with residents ranging from those who are relatively self-sufficient to others who require more complex care.
Stuart Benge, Relationship Director at Assetz Capital, said: “The care sector has grown significantly over the last few years due to the ageing population and Assetz is keen to support this segment as part of the wider supported living sector.
“Curaa Group have identified the need for a personal and compassionate experience within the sector which is an important factor when choosing a care home that is the right fit. It’s been great working with the team at Curaa on their first acquisition and we look forward to seeing the progression of the care home in the future and the exciting plans they have.”
Since 2013, Assetz Capital has lent over £960m to UK SMEs and housebuilders. As well as funding housing developments, the company also fund projects such as elderly residential care, specialist residential care, retirement and supported living, and purpose-built student accommodation (PBSA).
The marketplace lender funded new housing projects last year representing the equivalent of 1 in every 100 new homes built. The loan from Assetz Capital was used for the entire purchase of the care home and was introduced by Chandler and Co.
Haris Khan, Managing Director at Curaa Group Ltd, said: “Thanks to Assetz Capital we have secured our first care home acquisition in Stansted. Stuart Benge worked closely along-side our team to ensure the process was right for us and it was great that he could see the big ambitions we have as a family owned business. Our amazing team recently won Home of the Year at the Essex Care Sector Awards, and we intend to build on this momentum as we go into 2020.”