Sheepcote Road

LEXI supports the refinance of a 149-unit scheme with a multi-purpose refinance.

The asset, a part for-rent and part for-sale intermediate affordable residential block, required a flexible funding solution to deliver on the sponsor’s phased exit plan.

A single facility was structured to allow an element of servicing for the 109 retained units, with interest accruing on the 40 for sales assets. This structure, priced with an IRR of less than 8%, provided maximum flexibility and allowed the developer to sell a proportion of the completed stock whilst significantly reducing their holding costs on the retained assets.