Home Development finance
Development finance
The refinancing of Milton Park, a science and business park in Oxfordshire, represents the private lender’s largest single facility in Europe to date.
The firms aim to address a ‘shortage of debt capital’ in mainstream residential developments with their joint venture vehicle, which has an initial size of £165m.
The US bank has provided a £45m loan to the GCP Student Living REIT, which has noted a ‘structural shortfall’ of such assets across the UK.
The financing of a shopping scheme in the country demonstrates banks’ returning appetite for real estate debt.
The London-based debt provider lent £100m across four residential and student accommodation deals in June.
Lar España has sourced €98.5m from local banks for the construction of a shopping centre in Seville.
The UK-based lender has written a £59.8m loan to develop New Horizons Court in Brentford.
The mixed-used scheme, which includes luxury apartments and office space and is backed by Israeli billionaire Teddy Sagi, has attracted £72m of debt finance.
A rebound in commercial property lending during H2 2017 put last year’s figures on a par with 2016.
Lloyds has led the £390m financing of the mixed-use project in Shoreditch.