Last month, OakNorth provided a bespoke loan to Lovett Care, enabling the care provider to acquire Belvedere Manor, an 84-bed purpose-built care home in Colne, Lancashire.

Lovett Care operates 28 homes across the UK, offering over 1,800 beds.

OakNorth and Broadwood have completed over £70m in senior back leverage transactions to date.

The micro-hotel sector, including capsule hotels, has grown by an average of 16.4% per year since 2012, outperforming traditional hostels in profitability per square foot.

The loan backs the joint venture between Valpre Capital and CKC Properties and will be used to acquire the landmark purpose-built student accommodation site.

The British bank gained regulatory approval in early 2015, and was founded by entrepreneurs Rishi Khosla and Joel Perlman.