GBP 15m in asset backed loan to Ampersand Homes
June 20, 2013
Proventus Capital Partners has provided a term loan of up to GBP 15m to the United Kingdom-based land development company Ampersand Homes.
Ampersand Homes is a land development consultancy company, that has built up a portfolio of land development projects in the UK. The company develops properties from greenfield to buildable land in a process that requires a large amount of knowledge. All projects in the portfolio are in a later stage of the process and all properties have been granted re-zoning. Some of them have been granted planning permission. In the next stage the properties will be divested to housebuilders for development purposes.
Proventus Capital Partners believes that there is a strong demand for new housing in the UK and that Ampersand Homes’ management, with their long experience and strong operational track record from land development in the UK can play an important role in providing buildable land to the UK housebuilders. Proventus Capital Partners will provide an asset backed term loan of up to GBP 15m to provide the company with expansion capital for future projects.