Package of funding to acquire three new sites

We were approached by an experienced developer who was currently working on a number of projects.  The developer was looking to acquire three sites he had identified as having good potential.

How did we help?

We arranged a package of development funding to enable the developer to acquire the three sites and to refinance an existing site allowing him to build a number of high value luxury houses.

Total funding including interest roll up of £6.632m representing 90% of total development costs was achieved.

Additional debt levels have enabled the developer to significantly increase the number of sites they can undertake at the present time so benefiting from an aggressive site acquisition policy.

Favourable funding terms were secured especially when viewed against a traditional bank debt/mezzanine finance or joint venture option.