100% Joint Venture Development Finance
Our lender offers 100% joint venture development finance for residential projects with a minimum debt size of £1m to a maximum of £7m. The property will be held in an SPV owned by the developer, with funds lent to the SPV for 100% of the costs of the scheme. When all of the units have been sold, the remaining profit, after all borrowing and costs have been paid, is shared 50/50between the developer and our lender. The lender requires the projects profit (before interest and fees) to be 30% or more. The costs for the scheme are a 2% arrangement fee and the interest is from 1.2% per month. The location of the scheme must be in the UK and all residential projects are considered.
Comments