£1.9m Development Finance

Published by Guelane Mansour -

Krios Capital Partners have closed a £1.9m gross senior debt development finance facility to assist a client in respect of the proposed conversion of a listed hotel into a residential scheme.

Located in Newport, Shropshire, the proposed scheme is an exclusive new development of 12 individually designed and appointed apartments within a private estate in the middle of the town.

The announcement comes at a time when the property market is rife with uncertainly with many lenders pulling out or unable to commit.

Guelane Mansour, managing director at Krios Capital Partners commented:

“We’re delighted to have been able to deliver the funding for our client. Equally, It’s been a pleasure to work with a lender truly committed to support SME developers and whose offering is built to provide much needed deal execution certainty in light of these challenging times”

KEY HIGHLIGHTS:

• Stretched senior facility at 70% LTGDV

• Lending was based on a valuation undertaken pre-Covid-19

• Terms that were issued pre-lockdown remained unchanged despite the market turmoil

ABOUT US

Krios Capital Partners are a London based property finance boutique providing bespoke funding solutions for real estate whether it is the acquisition of a property, the recapitalisation of a portfolio or property development.

Our aim is to provide a one-stop-shop solution to enable speed of execution, a seamless process and, more importantly, a successful funding journey.

Should you have any funding requirements or would like to talk to a member of our team, please get in touch.