Mezzanine finance (“Mezz”) provides developers with a second layer of debt funding to increase the leverage on a particular development project or, indeed, any other type of real estate asset. Mezz is typically blended with low cost senior debt – this formula can be a lower cost alternative to stretch senior debt and improves cost transparency.
By definition, Mezz is subordinated debt, typically second charge, ranking behind the senior debt. Mezz is normally deployed ahead of senior and gets repaid after the senior is redeemed.
Our mezzanine loans are all structured as bespoke transactions with our usual pragmatic, flexible approach. We place great emphasis on the principle of “yes means yes” and we recognise that developers need a finance partner which knows what it is doing, is strong, consistent and committed to the relationship.
Our mezzanine finance offering includes:
- New builds
- Land with planning permission
- Heavy refurbishment / extensions
- Commercial to residential conversions
- Purpose built student accommodation
- Up to 70% loan to gross development value
- Up to 90% loan to cost
- £1m to £5m commitment per project
- Developments from £5m to £50m
Normal lending limits
- Specialised and expert team
- Fast, reliable decision making
- Bespoke pricing
- Pragmatic and flexible approach
- No geographical limitations within England & Wales
What gives us the edge?
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