Funding Details
100% Development Funding solution with senior debt and mezzanine input.
Project Details
Client is an experienced NHBC registered house builder of 25 years standing.
Director secured an option to purchase a marvellous site in the Lincolnshire market town of Spalding for the construction of 63 apartments, and under croft car parking.
He has had to negotiate a deal with a housing association to adhere to stringent Section 106 requirements. This has had the effect of reducing the overall Gross Development Value leading to a need for some outside support.
The element of mezzanine / guarantee assistance which was negotiated by Real Property Finance Limited on behalf of the client, with the funder, and a substantial asset backed Midlands property developer.
Result is the realisation of four years of planning by the client, and two years of meaningful work ahead for him.
