Beaufort Launches £1bn Senior & Stretched Senior Product
Beaufort Capital has launched a £1bn Senior & Stretched Senior Debt product to support experienced property developers across England, Scotland and Wales.
Beaufort expects to deploy these funds in the UK real estate development market over the next three to five years. The new product has already proved extremely popular with half-a-dozen projects closed and/or agreed since December 2021, including schemes across Central & Greater London, Nottingham, Essex, Edinburgh and Glasgow, with GDVs totalling c.£350m.
The multiple award winning team’s decades of experience in both property development and providing development finance enables Beaufort to continue to support a wide range of asset classes, including; mass-market residential, PRS, student accommodation, retirement, healthcare, leisure, commercial and site assembly.
The new product targets development projects with typical GDVs of £15m – £75m+ and loan facility sizes between £10m and £50m, though they have appetite to provide larger facilities for best-in-class schemes, with excellent sponsors. The product has a maximum loan to value of 70% and a maximum loan to cost of 85%.
Paul Norman, Founding Partner, Beaufort Capital, said: “We are delighted to announce this new product to the UK real estate finance market. For almost a decade, Beaufort has typically provided mezzanine debt and equity co-investment to its developer partners.
“Our clients have repeatedly asked us to expand our offering to a whole capital solution, and we are excited to be able to provide the entire product suite of capital needs for our clients, going forward.
“The Beaufort team continues to focus on partnering with exceptional sponsors in sectors and locations where we have built up deep knowledge and experience, over many decades.“
With a keen focus on ESG, Beaufort’s due diligence into potential transactions encompasses a thorough review of a number of factors, including construction methodology to ensure that it meets sustainability standards, as well as encouraging innovative solutions to meet and hopefully exceed evolving ESG expectations across the industry.
