Syndication of a £8m mezzanine loan (with a project profit share), already underwritten and drawn by ASK Partners Limited, funding the acquisition and planning costs for a substantial new mixed-use development in central King’s Cross.
This was a rare opportunity to invest in one of London’s most successful areas of regeneration in recent years, just minutes from the King’s Cross transport hub.
We secured the opportunity through our relationship with ASK Partners who are a London-based provider of bespoke funding solutions to experienced property developers and with whom Connection Capital clients have previously invested.
Target net returns to clients were 1.48x money invested (16% IRR).
Progress
The Connection Capital client investment was redeemed in full in December 2021, providing net returns to clients of 1.45x/15% IRR.
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