Red Chilli Structured Finance announced today that, as part of its Distressed Development Solutions platform, it had facilitated the restructuring of a development funding facility and arranged the injection of fresh funds into the stalled development of a high-end single unit within Greater London. "Working in partnership with the senior lender, we were able to bring a mutually beneficial solution to the table via an innovative structure" said James Thomlinson, Senior Broker at Red Chilli.

"The lender was happy as a significant site held on their books received the additional funding injection it needed to transform it into a marketable product. The developer was happy as their project was able to progress to completion thereby taking them closer to realising their development margin. The incoming lender was happy as they were able to secure themselves at an acceptable gearing level on a prestigious scheme that yielded them an attractive return. Red Chilli will continue to work with both the senior lender and the incoming lender to assess further projects of potential interest.”

Red Chilli is currently working with a number of lenders which are involved in similar development projects but which, for a variety of reasons, are not able to provide the funding necessary to bring them to completion.  “The key to unlocking these situations is to be able to start working with the lender and the borrower at an early stage to avoid any damaging delays or possible litigation” said Bernard Frazer, Partner at Red Chilli. “Through our Distressed Development Solutions, we are in a position to provide flexible solutions that will generally involve a combination of cash injection, development expertise/project management and restructuring of existing facilities.”

Red Chilli Structured Finance is an independent property finance advisory firm specialising in arranging funding for property projects in the UK and all over Europe.

Call us on 0845 210 5000 to discuss your funding requirements
www.redchilli.com

RedChilli Structured Finance
Minories House, 2-5 Minories, London EC3N 1BJ