Blackrose Accountants reveals that Market Financial Solutions (MFS) has secured £125 million of institutional funding in response to significant demand across both its bridging products and buy-to-let (BTL) mortgages. The London property developer, Avanton has completed two senior development facilities, totalling £96.5 million. Together with a £68 million stretch facility with Silbury Finance, the Oaktree Capital Management-backed development lender. The finance will fund the delivery of residential-for-sale schemes on the Old Kent Road, SE15, and in Reading.
Avanton’s Landmark Redevelopment and Partnership with Oaktree Capital Management
Avanton, a prominent London property developer, has marked a significant milestone with the completion of two senior development facilities, amounting to £96.5 million. This achievement has been made possible through a strategic partnership with Oaktree Capital Management-backed development lender, Silbury Finance, which has extended a £68 million stretch facility.
Revitalizing The Old Kent Road and Reading
This substantial funding will be instrumental in bringing to life residential-for-sale schemes in two key locations: the Old Kent Road, SE15, and Reading. Avanton, a company established in 2017, has a track record of transforming spaces into vibrant communities. The former Carpetright warehouse, now redeveloped into 262 mixed-tenure flats, including 92 affordable units, is a testament to their commitment.
The Ruby: A Beacon of Sustainable Development
At The Ruby, a flagship regeneration project on the Old Kent Road, Avanton is making a significant impact. This development comprises two towers, offering 262 mixed-tenure flats with breath-taking panoramic views of the London cityscape. Construction of this sustainable scheme is set to commence in September, with the first homes ready for residents in the second half of 2024 and the remainder in early 2025.
Oaktree Capital Management: A Financial Powerhouse
Oaktree Capital Management, a globally renowned American asset management firm specializing in alternative investment strategies, is a key player in this transformative venture. With assets under management totalling $159 billion and the trust of major US pension plans and sovereign wealth funds, their involvement adds a considerable level of financial expertise to the project.
Blackrose Accountants are specialises in providing bookkeeping, accountancy, taxation, payroll services and business development and advisory services The areas we cover include
- Wembley
- Brent
- Willesden
- Harrow
- Kingsbury
- Kenton
- Pinner
For a free consultation contact us at Blackrose Accountants – Wembley, Harrow, Kenton
- Croydon
- Thornton Heath
- South Norwood
- Crystal Palace
- Selhurst Park.
- Beckenham
- Streatham
For a free consultation contact us at Blackrose Accountants – Croydon, South Norwood, Thornton Heath