ELSTREE, HERTFORDSHIRE - £250,000
For the development of 4 houses in a popular North London suburb, a Mezzanine Loan of £250,000 has been provided for a period of 12 months. It supports a Senior Debt facility of £710,000 and both loans will be repaid from sales proceeds estimated at £1.3m, the two loans representing less than 75% of sales values.

KENT- £750,000 / £200,000
A combination of a Senior Debt of £750,000 for up to 3 years supplemented by a £200,000 mezzanine loan which combined to provide 95% of the purchase price of a residential development site. Risk was carefully managed by obtaining a guarantee from the substantial Parent Company of the borrower during the period planning permission is being finalised. Interest is being serviced from the rental income of the property.

CAMBRIDGESHIRE- £1.65M / £360,000
A Revolving Debt facility of £1.65m was negotiated, supplemented by a £360,000 mezzanine loan to complete the site assembly and construction of the project. The scheme comprises 8 executive homes in a Cambridgeshire village and by careful phasing the mezzanine loan is repaid out of the first phase sales.

MANCHESTER CITY CENTRE £3.5M
A Revolving Senior Debt Facility of £14.7m organised in order to purchase the site and construct 219 apartments in two phases of a residential development on the edge of Manchester City Centre.
In addition,a mezzanine facility of £3.5m was provided, bringing total finance to 90% of cost. The risk has been managed by the developer negotiating pre-sales for over 50% of the apartments, enabling the mezzanine loan to be reduced from the sale proceeds of the first phase.