It is its third investment in the supported living sector, which provides accommodation for vulnerable adults.

The loan will be used to purchase the property — which consists of a building with 12 existing flats — and scope to adapt the downstairs into four additional units.

This is Blackfinch’s second loan with the borrower.

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A flexible lease structure was agreed to give time for the refurbishment work for the four additional units, and to reflect current uncertainties. 

Alex Common, legal counsel at Blackfinch Property (pictured above), said: “This [deal] continues Blackfinch Property’s investment in the supported living sector, which we see as making an important difference to the lives of vulnerable adults."