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Maria Mallaband seeks growth with Lloyds cash
Leeds-based care home group Maria Mallaband hopes to double in size by 2010 after securing a property finance deal with Lloyds TSB Corporate Markets.
The property finance team at Lloyds TSB Corporate Markets in Leeds is re-financing the business' debt to support Maria Mallaband's growth plans. Lloyds TSB is providing an undisclosed multi-million-pound funding package, including a commercial mortgage-backed securities facility.
Financial adviser Colliers CRE Healthcare, led by Ken Timmis, provided current and projected trading assessments, valuation and investment advice to Lloyds. The guidance was in respect of existing care homes and proposed care home development sites within the group portfolio.
The business plans to double in size over the next three years, by building more care homes and buying rivals.
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