Details.
Construction and permanent financing for new construction of elderly apartments, including market rate, middle income and affordable properties. The programme provides fully non-recourse financing, interest only during construction, amortisation during the permanent phase, a maximum term of 40 years, required escrows and one closing for both construction and permanent loans. Eligible properties must have at least one resident aged 62 or older and may permit children. Loan amounts are under £130 million as stated on the page.