QSix Real Estate Finance provides £24m funding deal for Lifestory’s Cobham development
QSix Real Estate Finance (QSix) today announces the provision of a, £24m residential inventory loan to Lifestory, a business backed by Oaktree Capital Management, to support the refinance of its Cobham Bowers later living development. Located in the heart of Cobham, Surrey, Cobham Bowers comprises 53 homes across four floors, with the 1,2 and 3-bedroom apartments.
The funding provides Lifestory with the flexibility to manage the asset through the sale of homes and through its emerging rental business.
The transaction marks QSix’s seventeenth CRE loan having now committed £180m of capital in the last 12 months.
Aymen Souihli, Investment Director at QSix, commented: “We are delighted to provide this residential inventory loan to Lifestory secured by a prime later living scheme which benefits from strong environmental credentials. This transaction demonstrates our ability to structure and offer funding solutions tailored to meet the unique requirements of residential developers, while delivering attractive returns to our investors.”
David Clark, CFO at Lifestory, added: “Our latest development at Cobham is another great example of the high specification, quality homes we are producing for our later living customers, which offer all the advantages of a community on the doorstep for the homeowners. The new funding with QSix is an exciting development for the group and we look forward to forging a long-lasting relationship with them.”
