Knights facilitates £23M funding boost for Cinnamon Care Collection's luxury retirement developments
This financial boost was orchestrated to refinance two additional luxury care homes, Watermeadow Grange in Exeter and The Gables in Worcestershire, with the support of specialist lender Leumi UK
Luxury care home and retirement development group, Cinnamon Care Collection, has successfully secured a substantial £23 million funding arrangement with the assistance of the expert team at Knights. This development follows the refinancing of two other homes, amounting to an impressive combined total of £42.5 million.
The Cinnamon Care Collection is an exclusive consortium comprising 19 luxury care homes and retirement developments spread across the UK. The group's primary objective is to enhance the quality of life for older individuals, fostering happiness and health through an individualised approach and an unwavering commitment to top-notch care, as evident in their award-winning developments.
Key figures behind this strategic financial move include Paul Kenny, the real estate partner, and Deborah Ritchie, the construction partner at Knights. They collaborated closely with the Cinnamon Care Collection to secure the essential funding for these two upscale care homes. Stuart Norris, the commercial director at Cinnamon, expressed satisfaction with the successful refinancing, citing Leumi UK's outstanding track record, long-term outlook, and specialised expertise in healthcare property as crucial factors in extending their partnership.
Paul Kenny, a partner at Knights, highlighted the positive impact of this funding, emphasising how it underscores Cinnamon Care Collection's dedication to delivering personalised, high-quality care in later life. The collaboration between Cinnamon and Knights is particularly noteworthy, given Knights' status as the fastest-growing and largest regional professional services business in the UK, with 23 offices nationwide. Ranked among the top 50 UK law firms by revenue, Knights provides a diverse range of services to business clients and premium advisory services to private individuals.
The success of this funding initiative also involved collaboration with professional advisors at Osborne Clarke and Travers Smith, further emphasising the collective effort and strategic partnerships that contributed to this significant financial achievement for Cinnamon Care Collection. Overall, this funding milestone solidifies Cinnamon Care Collection's position in the luxury care home and retirement development sector, reaffirming its commitment to delivering exceptional care and services for the elderly.