Bevan Brittan has advised the Bank of Ireland on the refinancing of Midlands-based residential and nursing care home provider The Mount House Limited.

 

The team lead by Sunit Tejura, advised Bank of Ireland in relation to the property and finance aspects of the transaction. The loan will be used to refinance The Mount House’s existing debt and provide ongoing bank facilities.

 

The instruction reflects a general upsurge in activity within the care home sector where there is an increase in demand for new places and modern units. Much of the activity is being funded by bank debt and in particular, funders such as the Bank of Ireland who have specialist knowledge of the sector.

 

Head of Banking, Philippa Chadwick said: “This deal adds to our already impressive transactional and regulatory experience in the care home sector.

 

“Although the Bank of Ireland is an existing client, this is our first major financing instruction in Birmingham. This deal marks a major step in Bevan Brittan growing our property finance practice in the Midlands.”

 

The Mount House, led by husband and wife team Robert and Gina Parker, has a total of 338 beds across nine properties in Shropshire, Staffordshire and Cheshire.