Case Study: FulhamMezzanine
Redevelopment of two adjoining properties to create two high quality 6 bed homes and generous living accommodation of 3,200 sq. ft. gross internal area each on a prime residential street in Fulham.
Funding Requirement – The developer required a mezzanine facility to complement senior debt already in place with one of our preferred debt lenders.
Facility Provided – A mezzanine facility of £500,000 was provided which in conjunction with senior debt and developer’s equity contribution completed the total funding requirement for the project. The facility was provided on normal Strata Fund terms with the formal valuation and monitoring surveyor reports co-addressed to the senior debt lender and Strata Fund. The flexibility of the facility allowed the developer to release a significant level of his equity to allow for further site acquisitions to be progressed through the remaining duration of this project.