£12.0m development finance

Published by Krios Capital Partners -

Krios Capital Partners have closed a £12.0m development finance facility on behalf of Zarwah Development, a UAE and UK based property development company.

The debt facility comprises £9.2m of senior debt sourced from Paragon Bank and £2.8m of junior debt sourced from two mezzanine lenders (including an overseas based lender).

Located in Croydon, 20 min away from London, the proposed residential project is an exclusive ground-up development which will entail 42 apartments (of which 24 affordable).

Guelane Mansour, managing director at Krios Capital Partners commented:

“We’re delighted to have been able to deliver the funding for our longstanding client, especially during these uncertain times. The transaction was a challenging one due to the nature of the site, cross-border deal structure and the involvement of multiple lenders (incl. an overseas based junior lender). This transaction couldn’t have happened without the support of Paragon Bank who went above and beyond to overcome all the challenges.”

KEY HIGHLIGHTS:

• 77% LTGDV

• Combination of senior debt & mezzanine finance

• Blended rate of 9.5% per annum

• 30 months term

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.