St. Arthur secures additional funding to help deliver affordable homes
St. Arthur Homes secures additional £16m from funds advised by CBRE Capital Advisors to help deliver affordable homes.
New funding will allow St. Arthur Homes to continue providing new Shared Ownership homes to customers across the South East and Midlands. Centrus acted as arranger to secure this additional stabilised funding from funds advised by CBRE Capital Advisors, having raised a total £60m of development and stabilised financing for St. Arthur Homes over the past 12 months.
Costa Ghioules, CFO at St Arthur Homes: “It was a pleasure working closely with the Centrus and CBRE teams to deliver this portfolio refinancing covering a portion of our stabilised Shared Ownership stock. The refinancing allows us to continue our growth story of delivering fantastic affordable new build homes to our customers. Many thanks to all involved in the lengthy process in securing this raise and ensuring best Value for Money was secured in a viable manner.”
Scott Douglas, Assistant Director at Centrus: “We are delighted to have supported the team at St Arthur Homes again to arrange this additional funding from CBRE. We have been working with St Arthur Homes for the past 2 years and have now arranged c.£60m of debt facilities to help support the development and supply of new shared ownership homes. We look forward to working with the team to continue to support their growth aspirations over the coming years, which will see the portfolio grow significantly to help meet the significant demand for affordable homes in England.”
Nick Griffiths, Director at CBRE Capital Advisors: “This is our third loan facility with St Arthur and the first in the stabilised investment space. It has been fantastic watching the business go from strength to strength and we have very much enjoyed working with the Centrus and St Arthur teams again. We see Shared Ownership housing as being of vital importance to UK the housing market and are delighted to have advised a longstanding pension fund client on this debt investment.”
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