Cain International
London, 5 August 2024: Cain International (‘Cain’), a privately held firm specializing in real estate investment solutions, via its Fortwell credit strategy, has agreed a £65M revolving credit facility with Lovett Care, a fully integrated UK care home operator.
This facility will finance a pipeline of new care homes across the UK, starting with three in the South of England: Kings Hill, Kent; Chelmsford, Essex; and Abingdon, Oxfordshire. This agreement underscores Cain’s conviction in the care sector, having leant over £650 million throughout the UK since 2018.
Founded in 2009, Lovett Care specialises in providing high quality care facilities with a particular focus on residential, nursing and dementia care. Lovett’s portfolio includes over 600 beds across its care homes, and the firm has robust expansion plans to continue to provide high quality care provision in desirable locations that serve the UK’s aging population.
Nikos Yerolemou-Ennsgraber, Director at Cain, commented: “By agreeing this deal with Lovett Care, we have established a strong relationship with a highly experienced provider. As the UK faces a significant demand for care beds, far exceeding the current supply, we are proud to contribute to the development of this sector.”
Keith Crockett, CEO at Lovett Care added: “We are delighted to have initiated this relationship with Cain International, which will help us execute our strategy to deliver high quality, new build care homes across attractive markets. Cain’s expertise in the sector has been helpful in putting together a framework that fits well with our growth strategy and ambitions to deliver best-in-class facilities.”
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