The loan aims to allow the borrower to build up occupancy, enabling them to refinance onto a long-term commercial mortgage.
The care home has an energy efficiency rating of EPC B and is future proofed to ensure compliance, it is also CQC registered and includes communal spaces and tailored facilities.
The bridging loan will allow the borrower to build up occupancy and trading performance, positioning them for a refinance onto a long-term commercial mortgage.
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Blackfinch previously funded the development of the project and will continue to support the borrower through its next phase of growth.
Jason Wong, assistant investment manager at Blackfinch Property, commented, “We are proud to continue our relationship with Zephyr X as they deliver much needed care solutions in Blackburn.
“This facility addresses an urgent demand for modern, sustainable care homes while also delivering significant benefits to the local community.”
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