Eldridge Real Estate Credit today announced the provision of a £96.7 million loan to Morar Care Group, in partnership with Simply UK, a leading care home developer and operator headquartered in Glasgow, to support the refinancing and development of premium care facilities across Scotland and South East England.

Eldridge Real Estate Credit is a leading investor in real estate credit opportunities throughout the US, UK, and Europe, including construction, bridge, and special situation opportunities across the capital structure.

“With the median age in the UK rising, there is a growing demand for high-quality residential care homes,” said John Cole, Global Head of Real Estate Credit, Eldridge Capital Management. “The team at Morar Care Group has consistently responded to this demand, developing care facilities where resident comfort and well-being is the top priority.”

This latest investment will be used to refinance five operational assets, while also providing financing for the development of two new care homes. Upon completion, the portfolio will comprise 496 operational beds across seven locations, including North Berwick, Dunfermline, Inverness, St. Andrews, and Wimborne, with Frinton and Billericay in development.

“This financing enables us to continue delivering premium care to the communities and individuals that need it most,” said Chris O’Brien, CEO of Morar Care Group. “We look forward to our continued partnership with Eldridge Real Estate Credit as we expand our footprint across the UK.”

Morar Care Group offers residents a variety of essential and luxury services and amenities, including 24/7 nursing care, assisted bathrooms, and tailored wellbeing and lifestyle programmes, as well as a hairdressing salon and nail bar, cinema, private dining room, tearoom, multiple social lounges and cafes, and garden enclosures.

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