Blackfinch Property completes £2m deal for supported housing complex in West Midlands

Blackfinch Property, a rapidly growing agile lender to the UK property market, has completed a £2m refinancing deal for a West Midlands supported housing complex providing 18 one-bedroom apartments for vulnerable people.

The refinancing deal follows the borrower’s redevelopment of a vacant two-story property, with improved EPC ratings, providing much-needed supported living in the West Midlands.

All investment opportunities at Blackfinch Property are scored against criteria that will deliver Environmental, Social and Governance (ESG) benefits and the two-year deal from Blackfinch Property will enable the borrower to continue to let the property to a not-for-profit housing provider, offering higher quality supported living to vulnerable tenants in the West Midlands, and it represents significant social value.

Investment director for Blackfinch Property, John Hartigan, said: “We are very pleased to continue our work with the borrower and their team, with whom we have previously had successful loans, and support their strategy to expand care and supported living facilities across the UK.

“We are focused on ensuring we can support and continue working with this important sector - providing important social value, and demonstrating the ‘s’ of ESG.”

By Mark Adair – Correspondent, Bdaily