Captima structures £30M Preferred Equity
September 20, 2017
Captima delivers compelling debt solution for PRS leader
September 27, 2018
A leading Private Rented Sector (PRS) developer hired Captima to structure acquisition and construction finance for a strategically located city centre site. The developer was keen to explore a range of alternative financing options identified by Captima including stretch senior construction loan, senior development loan, mezzanine and joint venture alternatives. Following extensive negotiation, Captima delivered an agreement with a specialised Debt Fund to provide £105 million of highly-geared construction debt.
The terms:
STRETCH SENIOR CONSTRUCTION LOAN
Purpose: To fund site acquisition and subsequent development of 546 units
Lender: Specialised Debt Fund
Amount: £105 Million
LTC: 83%
Coupon: LIBOR +7%
