Real estate debt advisory, Karis Capital, has arranged a £25.25m development loan for joint venture partners Zenzic Capital and Torsion Group, to deliver a 183-unit PBSA development in Leeds.
The capital sourced by Karis will enable Zenzic and Torsion to tackle the current shortage of high-quality PBSA sites across the UK, which has compelled this collaborative duo to build a portfolio of exciting projects with a Gross Development Value (GDV) of over £500m.
“After working with Nicholas Christofi on a previous facility, we knew immediately we could place our trust in his skilled team of advisors at Karis Capital. The loan structure achieved allows the joint venture to deliver this exceptional project, which will play a major role in meeting the rapidly growing demand for premium student accommodation across the city of Leeds.”
Nadine Buckland, CEO, Zenzic Capital
Real estate investment firm Zenzic Capital and Torsion Group, a skilled contractor and developer with an extensive track record, approached Karis Capital to secure a well-structured finance agreement to allow them the freedom and flexibility to deliver an attractive, high-quality development within a key location of the popular student city.
“When we were approached by the joint venture partners on this project, we could immediately see the potential in the final product. This was a major factor in securing the best possible terms, which will afford the project team the freedom and flexibility to concentrate on delivering a market leading development. It’s a privilege to contribute to such a large-scale and impressive project that will benefit the students of Leeds and surrounding community.”
Nicholas Christofi, CEO and Co-founder, Karis Capital
Karis Capital’s service offerings have seen their real estate finance team work alongside leading prime property developers and across a number of high-profile projects in recent years.
Thr company’s hands-on experience helps guide clients to the best rates and lenders in the markets, while also pursing maximum returns, and building extensive relationships with finance leaders, valuers and lawyers to ensure smooth transactions from start to finish.
