Zenzic Capital is pleased to announce a mezzanine facility on a new build development in West End, Surrey which will provide 13 new homes, with an expected GDV in excess of £5.5 million.
The Zenzic Secured Lending (ZSL) facility of £777k over 16 months provides part of the capital requirement for the development by Antler Homes, a scheme of eight semi-detached 3-bed homes and one detached home, as well as four 2-bed apartments. Paragon Development Finance are providing the senior debt facility. The scheme forms part of Antler Homes’ target of delivering 300 new homes over the next three years.
Andrew Rinaldi, Managing Director of Antler Homes PLC, commented, “Expanding our sources of capital to help us deliver on our targets for new home delivery is key to our growth plans, and we are delighted to be working with Zenzic on this important development.”
“We are pleased to have had the opportunity to provide this mezzanine financing facility to a developer of the calibre of Antler Homes, who continue to provide high-quality, spacious homes in the regions, which are going to increasingly be in demand in the post COVID world. We look forward to becoming a funding partner that can contribute towards their exciting growth plans.”
Daryl Thorpe, partner at Zenzic