Cheyne Capital Management has provided £103m to finance the acquisition and development of a London residential-led mixed-use scheme.
The fund manager said it has provided the senior loan to finance Graphite Square, a project in Vauxhall sponsored by Australian property developer Third.i. The 279,900sqft site will provide new homes, workspace and amenities for the area.
Cheyne’s investment was made via its sixth and seventh Cheyne Real Estate Credit funds.
“We’re pleased to be partnering with Third.i on their second London development and look forward to working together to bring high quality and affordable homes, offices and retail space in this desirable location,” said Arron Taggart, the head of UK real estate at Cheyne Capital.
Ron Dadd, global managing director at Third.i, said: “We’ve been looking for exciting opportunities in London for some time, and Graphite Square is the perfect embodiment of our belief in creating better places to live, work and play.”
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