Avatara secures £1.5m funding package to acquire Dorset care home

Avatara Inc Ltd has secured a £1.5m refinance and acquisition funding package to launch a new care home in Dorset to complement its sister home Casterbridge Manor.

The company used the funding from ThinCats to acquire a care home that had previously closed down but will soon reopen as the newly named Casterbridge Lodge based in Winterbourne Steepleton, Dorset. The home will provide 34 rooms with a similar ethos to Casterbridge Manor.

Chetan Borkhatria from Avatara said: “Casterbridge Manor is a very well-loved care home by our residents, their families, and our staff, and we are looking forward to launching Casterbridge Lodge, enabling us to offer the same amazing level of care and attention to even more residents.

“Chandler & Co has done a great job in recommending ThinCats, and we are delighted the funding has been finalised.”

Casterbridge Manor, set in the village of Cerne Abbas near Dorchester, is a 62-bed purpose-built care home acquired by the company in 2016.

The home offers residential, nursing and specialist dementia care. The business is run by experienced husband and wife team Chetan Borkhatria and Suri Kalyan.

Sean Hurden, senior broker, Chandlers: “Chetan and Suri have a reputation for turning around failing or distressed homes and Casterbridge Lodge will complement their existing home, Casterbridge Manor extremely well. The fact that a funding package was agreed expeditiously and processed in a timely manner is testament to the ability and professionalism of Richard and his team at Thincats.”

The business was introduced to ThinCats by Sean Hurden, senior broker at Chandler & Co, a specialist care home mortgage brokers based in Kent.

Richard Henshaw, director national development healthcare, ThinCats: “Chetan and Suri are extremely experienced in high quality care home provision, and I have no doubt that Casterbridge Lodge will be just as impressive as Casterbridge Manor.

"We are very pleased to be continuing to provide support to the healthcare sector and look forward to seeing the home open under their expert care.”

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