Impact Healthcare REIT plc has signed a £50m five-year loan facility with Metro Bank plc to help manage its capital structure and support the growth plans of its subsidiaries.
The loan facility has two elements: an interest only term loan of £25m and a revolving credit facility of £25m.
The real estate investment trust said £25m of the term loan and £5m of the revolving credit facility are secured over a portfolio of 30 care homes held in a wholly-owned group company.
As reported last month, Impact bought two care homes for £8.3m, totalling 138 beds. The homes are in North Lanarkshire, Scotland, and Norwich, Norfolk.