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  Red Chilli launches Distressed Development Solutions, its one-stop solution for distressed development projects  
  London, 4 June 2009  
     
     
 

Red Chilli launched today its Distressed Development Solutions service, a bespoke service to support distressed development projects beset by financial difficulties.

“Distressed Development Solutions is a service designed for development projects in distress or developers who are struggling to complete ongoing projects” said Bernard Frazer, Partner at Red Chilli. “In the current economic environment, an increasing number of development projects are experiencing financial difficulties due to the falling property values (and therefore often the breach of LTV covenants) or a lack of equity. This service is targeted at developers who anticipate difficulties in the completion of a project but also at lenders who may no longer be able to continue funding a project or find themselves in a position where they may have to step in”.

Distressed Development Solutions offers a bespoke service designed to provide a successful exit to UK development projects by drawing upon the extensive development experience of Red Chilli’s partners and bringing the equity that is required to get a distressed project back on track and through to successful completion. This service is particularly suited to developments where financial difficulties are anticipated or refinance is required prior to completion.

James Thomlinson, Senior Broker at Red Chilli said: “Distressed Development Solutions has the ability to inject equity into an ailing project and provide extensive development expertise. The service is therefore able to help constrained developers by providing the necessary resources to bring a project to fruition - thereby restoring investors’ and funders’ confidence. Distressed Development Solutions is equally adapted to working with lenders that have stepped into a distressed development where capital injection or development expertise are required to complete”.

Distressed Development Solutions specialises in development projects in mainland UK with a GDV between £5 million and £20 million. Please contact us to discuss any specific project.

  
     
     
  Should you wish to discuss a specific project, please contact James Thomlinson on  
  0845 210 5000    
  or by email at james@redchilli.com  
     
     
  Whatever your property project - investment, development, UK or Europe think Red Chilli Structured Finance www.redchilli.com  
     
     
     
  Red Chilli Structured Finance, Minories House, 2-5 Minories, London EC3N 1BJ  
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  The information in this email has been present by Red Chilli Structured Finance. Red Chilli has taken all reasonable care in the preparation of this document to ensure its accuracy. Where appropriate we may have relied upon assurances and opinion. Interested parties must undertake their own due diligence, in conjunction with their professional advisers, to satisfy themselves as to its veracity. Red Chilli gives no warranties as to the accuracy of any information supplied by it, now or subsequently, and can accept no liability for the actions of interested parties based on reliance of information provided by it.