Eldridge Real Estate Credit Secures £96.7 Million Loan to Morar Care Group for Care Home Developments Throughout the UK
Summary
LONDON, March 12, 2025--(BUSINESS WIRE)--Eldridge Real Estate Credit today announced the provision of a \xa396.7 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. 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. "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.Eldridge is an asset management and insurance holding company with approximately $72 billion in assets under management that consists of two divisions: Eldridge Capital Management and Eldridge Wealth Solutions. Headquartered in New York, Eldridge has offices in Atlanta, Beverly Hills, Chicago, Dallas, Des Moines, Greenwich, London, Overland Park, Singapore, and Topeka.