Credo Property Group Limited
Fund III in Scottish Property Joint Venture
We are pleased to announce that Fund III today completed its second acquisition.
Fund III has invested in 3 substantial residential sites in Scotland which offer a significant opportunity to add value through upgrading, refurbishment and change of use.
The purchase price for the three sites is £9.2m plus a further £800k to be spent on refurbishment. Senior Debt has been provided by Dunfermline Building Society.
Fund III’s £2.225m investment is in the form of a mezzanine loan with a coupon of 12.5% and a 25% share of profit.
This is the second joint venture Credo has entered into with development specialists Capital & Provincial.
For further information on this Fund or Credo’s other investment opportunities please contact your Relationship Manager or email us at info@credogroup.com
|
+44 (0)20 7968 8300 www.credogroup.com
|
|