A historic pre-war school building is transformed into luxury apartments, offering a unique opportunity for both development and real estate investment. The project involves converting this iconic structure into high-end living spaces, in line with the growing demand for quality residential properties in the area.
Financing Solution
Verbeek Asset Finance successfully assisted the developer in securing a tailored financing solution that included a purchase loan and a construction deposit. This structured financing package was designed to meet the specific needs of the project, providing the developer with the flexibility required for a smooth transition from acquisition to development.
Unique Financing Feature
A distinctive aspect of this financing deal is the interest-only payment structure on the drawn amount, with no commitment fees charged on the construction deposit unless funds are actually drawn. This approach ensures that the developer only incurs costs for the capital utilized during the project, optimizing financial efficiency during the construction phase.
Case Consultancy
Verbeek Asset Finance successfully assisted the developer in securing a tailored financing solution that included a purchase loan and a construction deposit. This structured financing package was designed to meet the specific needs of the project, providing the developer with the flexibility required for a smooth transition from acquisition to development.
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Project Progress & Market Opportunity
All apartments are intended for sale. The market reception has been positive, and the properties are positioned to attract high-value buyers due to their prime location and the quality of the transformation.
Summary
Verbeek Asset Finance played a key role in securing the right financial support for this ambitious project. With a strategic financing package that aligned perfectly with the developer’s needs, this transformation is well on its way to becoming a successful and profitable venture.
