The care home developer — which is set to open two more homes before the end of the year — currently operates six such properties across Birmingham and the West Midlands.
Abbey Rose was commissioned in May 2019 and boasts 85 bedrooms.
The development will offer around-the-clock nursing as well as a specifically designed dementia unit and bariatric rooms.
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“The site has been a key part of the local community, having previously been a local pub, so we needed to provide a bridging loan to help acquire the land, which transitioned into a development loan to fund the building’s construction,” said David Penston, managing director of property loans at Assetz Capital.
Naz Nathani, director at Macc Group, added: “[David’s] team understands the property development dynamics very well, and that is evidenced by the complex nature of the loan they have managed to construct.”
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