Blend Network

Blend to host webinar with Key Land Capital on how to get development projects funded

On 24th March, Blend Network will host a lunchtime conversation between its head of originations Paul Watson and Key Land Capital managing director Kevin Sharkey.

The webinar, ‘A property developer’s experience: how to get your project funded’, will cover how Blend Network uses different deal parameters, such as costs, GDV and day-one value.

It will also go through a recent deal with Key Land Capital for the Image House development, an office building conversion into 27 residential units in Stafford which will offer a mix of studios, one- and two-bedroom apartments.

Paul and Kevin will discuss how this deal was structured to allow maximum loan-to-cost, loan-to-GDV and day-one value.

The 20-minute event will also cover the dos and don’ts when it comes to arranging a deal, and how to work effectively with a lender.

Paul said: “Over the past 12 months, we’ve seen many more established property developers starting to work with alternative lenders looking for more gearing, flexibility and service.” 

He believes that as the concept of alternative finance is still relatively new to some developers, this would be a great opportunity for those wanting to learn more about the process and what information an alternative lender would require.  

“After all, taking a development finance loan is no small feat and borrowers need to ensure they are working with a lender that is right for them and their project.” 

Kevin added: “As well as identifying great development sites, choosing the right finance package is very important to all of our schemes. 

“We chose to work with Blend Network on our Stafford residential development and we found them very refreshing. 

“Blend Network is a company that understands the funding process well and created a funding package that met all of our requirements and allowed us to refinance and build out the scheme in an efficient manner.”

Leave a comment