Funding / Real Estate
INVESTING Individual Investor Financial Adviser Institutional Investor FUNDING Entrepreneur Real Estate
Reading time: < 1 minute

Octopus Real Estate provides record £28.4 million refinancing facility

18 Jun 2019 By Octopus Real Estate

We’ve agreed to provide an experienced London property investment, development and management business, with a £28.4 million refinancing facility on a Private Rented Sector scheme in Ilford, London. 

Due for practical completion in July 2019, the scheme will deliver 106 residential units for rent and a mix of one, two and three-bed homes. The new facility will refinance the current development loan on the scheme and enable the borrower to complete refurbishment works on the former office building. 

Located between Ilford and Seven Kings, within the London Borough of Redbridge, the local area is currently undergoing extensive commercial and residential regeneration. Its desirability is set to increase further with the imminent arrival of Crossrail, with two train stations in walking distance, providing direct access to London Liverpool Street in under 20 minutes. 

Secured by way of a first charge on a 24-month term with an LTV of 68%, the loan continues the longstanding relationship between ourselves and borrower, which has experience in delivering and managing similar schemes. 

Paul Carmody of Outside the Box Capital Solutions acted as the advisor on behalf of the client.

Related articles

Our new partnership with Homes England, Greener Homes Alliance
News
21 Oct 2021

Our new partnership with Homes England, Greener Homes Alliance

Octopus Real Estate have partnered with Homes England, the Government’s housing delivery agency, to create the Greener Homes Alliance. The new Alliance commits £175 million, providing both loan finance and expert support to SME housebuilders, enabling them to build more high quality, energy efficient homes throughout England.
PIC invests £200 million in the UK retirement villages joint ventures with Octopus Real Estate
News
12 Jul 2022

PIC invests £200 million in the UK retirement villages joint ventures with Octopus Real Estate

Pension Insurance Corporation plc (‘PIC’), a specialist insurer of defined benefit pension schemes, today announces it is making a £200m equity investment to fund the development and operation of around 10 new retirement communities across the country. The Fund, Senior Living Investment Partners, is a joint venture between PIC and leading specialist real estate lender and investor, Octopus Real Estate
Ground-breaking Ceremony at Brendoncare St Giles View
News
1 Jul 2021

Ground-breaking Ceremony at Brendoncare St Giles View

Benjamin Davis & Michael Toft from the Octopus team recently attended the ground-breaking ceremony to mark the new care home construction of Bredoncare St Giles View in Winchester. It has been custom designed by our healthcare development team for The Brendoncare Foundation who will lease and operate the new home.
Share