The transaction enabled Cayuga Homes to sell some of the 33 apartments in the development with no early repayment charges, retain the rest, and release some equity.
The funding enabled the client to refinance its original development facility while allowing time to execute a dual-track strategy of unit sales and long-term lettings.
The facility supports the acquisition of the freehold of the building, conversion and construction costs, S106 and CIL liabilities, professional fees, interest and a 4-month VAT...
Both homes are anticipated to open in early 2026 and will deliver 169 beds to an area experiencing a chronic shortfall of high-quality, new purpose-built care homes.