Sirius Success: £24.96m loan secured for 250 Unit PD Scheme

Long term client of Sirius and MD Nicholas Christofi, required a stretched development facility for their latest project, the acquisition and development of a 248 multi unit residential scheme in Birmingham. Due to the complexity of the scheme, Sirius negotiated a syndicated senior facility between two lenders and also introduced two mezzanine lenders in order to secure the required funds at over 90% LTC. Sirius also pre agreed a take out facility with the same senior lender once the property had been developed and let. The total loan amount obtained for the client was £24.96m.