Development Finance
We source and execute finance across the whole stack of development finance – senior debt, mezzanine, stretched finance and equity.
Funding for Projects
As a team we are able to cover a huge range of funders, and know of over 90 lenders across traditional banks, building societies, challenger banks, peer to peer lenders and an array of debt funds and alternative providers.
We don’t have a set Profit on Cost, IRR, LTC or LTGDV that we work to. Each scheme varies, as does its solution. We are happy to work on schemes with low loan to values with a focus on pricing and timing, or covering deals which require lending very high up the stack.
Leverage & Capital Stack
We regularly handle deals with very high leverage, but clearly LTC restriction and LTGDVs are key considerations, and cannot simply be ignore. The higher up in the stack the scheme the more likely that a scheme might merit equity profit participation in the funding solution rather than simply coupons and fees.
We work with our clients to put together a comprehensive pack of information in order to source competitive funding, and to satisfy lender’s underwriting and due diligence.
Location
We have a range of lending options that allows us to provide a comprehensive coverage of development schemes in England, Scotland, Northern Ireland and Wales.
In addition we arrange development finance across good locations in Western and Central Europe, as well as various islands in the Caribbean. We can also arrange bridging finance, if needed, in these locations.
Types of Development Schemes
Residential
We have handled a wide range of development across the residential space. We have worked on funding high-value single dwellings in Central London as well as the country, through to large flatted schemes across the UK; the largest flatted scheme we have funded in one phase is over 300 units in one block.
Purpose-Built Student Accommodation
We arrange funding for the development of student accommodation, whether it involves fractional sales of individual sales or for an institutional sale of the entire building. We do not simply focus on Russell Group universities and instead look at the attractiveness of the scheme in its local context and demand.
Hospitality
Hotels are an area we have successfully funded and we also work on funding combinations of hotels, leisure facilities and golf courses.
Healthcare
Funding of care homes and specialist healthcare assets is a niche area and one where we know the lenders who have the appetite for financing. We have worked with owner-operated schemes and not just separate operators with pre-lets.
Speculative Commercial
This is traditionally one of the hardest areas to fund, as lenders want pre-lets in place. We are happy to work with developers where we can work on the relevancy of a scheme and their experience at delivering in this sector.
Interested in learning more? Get in touch today.