Care home operator Lovett Care has secured a £65 million revolving credit facility from real estate investment company Cain International.

The facility will finance a pipeline of new care homes across the UK, starting with three in the South of England: at Kings Hill, Kent; Chelmsford, Essex; and Abingdon, Oxfordshire.

Founded in 2009, Lovett Care specialises in providing care facilities with a particular focus on residential, nursing and dementia care. Lovett provides more than 600 beds across its care homes.

Keith Crockett, chief executive at Lovett Care said: “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.”

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.”