Titlestone Funds 123 Apartments in Uxbridge
Titlestone, the leading provider of stretched senior debt to residential developers, has recently provided a £28.5m development facility to a new client who has acquired an office building in Uxbridge for conversion into 123 apartments with car parking.
Commenting on the project, Simon Dekker Relationship Director at Titlestone said “We are delighted to have been able to support this acquisition following the introduction from BBS. This was an attractive scheme but required strong focus from all parties to be able to meet the timescale of 6 weeks from first meeting to completion. This shows that in the current market place, the ability to move quickly as well as provide the required level of gearing is equally important”.
Titlestone provides stretched senior debt to experienced developers in the South of England, having recently extended its product range to provide a range of development funding options from 60% up to 70% of the gross development value.
Titlestone is now in its 6th year of trading and is backed by the resources of Oaktree Capital. In that time it has completed on over 300 transactions, with facilities drawdown in excess of £2.2billion supporting over 7,000 residential and student units.