Property developer and investor Development Securities has completed the 拢40 mln (EUR 49.5 mln) acquisition of a portfolio of bank loans, secured against 17 investment and development assets located in London and the South East of England. The portfolio consists of 76% commercial and 24% residential assets.
Property developer and investor Development Securities has completed the 拢40 mln (EUR 49.5 mln) acquisition of a portfolio of bank loans, secured against 17 investment and development assets located in London and the South East of England. The portfolio consists of 76% commercial and 24% residential assets.
The company has completed the acquisition within its own resources and expects to realise the repayment of the loans through the sale of its underlying property assets as rapidly as markets will allow.
The company anticipates that returns generated from the realisation of these loans will approximate those normally achieved within its current risk adjusted return parameters.
Due to contractual confidentiality and commercial sensitivities, the company was unable to disclose further details.
