Forsters advises specialist lender and investor in UK residential property, Hilltop Credit Partners on a £15 million loan to developer, Propiteer Group
Banking and Finance Partner, Simon Collins, led the Forsters team to act for new client, Hilltop Credit Partners, to complete a £15 million loan to the Propiteer Group for a development project.
Propiteer will use the funds to refinance existing loans to deliver 100 private flats, including associated underground parking and cycle storage, on a brownfield site close to the River Nene and within walking distance of Peterborough Station and a number of retail centres.
The £120 million Fletton Quay regeneration area is being developed by the Peterborough Investment Partnership to create a vibrant multi-use development close to the city centre.
Jacob Andersen, head of transactions at Hilltop Credit Partners, said: “This project sits well with Hilltop’s appraisal of market conditions at the moment – regional towns are presenting amongst the most compelling cases for investment.”
Simon commented: "Great to get the first one off the blocks for Hilltop. Key takeaway was the great collaboration from all parties in getting the job over the line."
On the deal, Simon was supported by Banking & Finance Senior Associate, Catriona Stenhouse, and Associate, Simona Cavasio. The Forsters team also included support from Construction Partner, Andrew Parker, and Associate, Caitlin Ervine, as well as Commercial Real Estate Partner, Ben Brayford, Senior Chartered Legal Executive, Lauren Archer, and Associate, Alexandra Townsend-Wheeler.