Lender funds £39m for Capital Towers development

Lender funds £39m for Capital Towers development



Residential development lender Titlestone Property Finance has just completed on a £39m stretched senior loan facility to aid the Galliard Homes’ Capital Towers development….


Residential development lender Titlestone Property Finance has just completed on a £39m stretched senior loan facility to aid the Galliard Homes’ Capital Towers development.

The £72m development is set to be completed by Q4 next year, where it will consist of a 34-storey Sky View Tower and a 14-storey City West Tower, both overlooking the Queen Elizabeth Olympic Park.

The scheme will provide 191 one, two and three-bedroom apartments, all of which have already been pre-sold to UK and international buyers due to the quality of the accommodation and the shopping and dining amenities found in Westfield Stratford nearby.



“We are delighted to be supporting such an experienced client as Galliard Homes in delivering this project,” commented Nigel Jackson, Relationship Director of Titlestone.

Jonathan Morgan, Galliard’s Director of Investment and Developments, added: “We have been extremely impressed by Titlestone's pragmatic approach throughout this transaction and the ease in which they delivered a facility of this size on competitive terms.”

Oaktree Capital-backed Titlestone has committed over £1bn for development projects in London and southern England since 2012.

 



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