Development finance lender Atelier has provided finance facilities totalling £23.9 million for two new care homes. 

The two loans provide £14.6 million to build a new 131-bed home in West Yorkshire due for completion in April 2025, and £9.3 million for a 60-bed home in Cheshire to be built on the site of a former care home, extending the capacity of the site.

Martin Gilsenan, chief orginations officer at Atelier, said: “We are delighted to be able to finance the construction of these new high-quality developments in West Yorkshire and Cheshire. Care is an asset class that we understand well, where the underlying strength of the counterparties we partner with is particularly appealing.  We are looking forward to strengthening our relationships with both borrowers in the months ahead.”