KARIS CAPITAL FACILITATES £25 MILLION LOAN TO DELIVER SIGNIFICANT STUDENT DEVELOPMENT IN LEEDS

Leading real estate debt advisory, Karis Capital, has arranged a £25.25 million development loan for joint venture partners Zenzic Capital and Torsion Group to deliver an impressive 183-unit student accommodation development in Leeds. The capital sourced by Karis will enable Zenzic and Torsion to tackle the current shortage of high-quality PBSA sites across the UK, which has compelled this collaborative duo to build a portfolio of exciting projects with a Gross Development Value (GDV) of over £500 million.

Zenzic Capital, a real estate investment firm, and Torsion Group, a skilled contractor and developer with an extensive track record, approached Karis Capital to secure a well-structured finance agreement to allow them the freedom and flexibility to deliver an attractive, high-quality development within a key location of the popular student city.

The new development comes at an exciting time for the UK’s Northern property sector, as properties in Leeds have seen strong price rises over the last year, with values increasing by 6.1%[1], £14,459 on average, compared with the marginal rise of 2.5%[2]countrywide over the past 12 months. This has been fuelled largely by multi city centre regeneration projects, with developers attracted by a burgeoning lettings market driven by student demand.

Nadine Buckland, CEO of Zenzic Capital, commented: “After working with Nicholas Christofi on a previous facility, we knew immediately we could place our trust in his skilled team of advisors at Karis Capital. The loan structure achieved allows the JV to deliver this exceptional project, which will play a major role in meeting the rapidly growing demand for premium student accommodation across the city of Leeds.”

Nicholas Christofi, CEO and co-founder of Karis Capital, commented: “When we were approached by the JV partners on this project we could immediately see the potential in the final product. This was a major factor in securing the best possible terms, which will afford the project team the freedom and flexibility to concentrate on delivering a market leading development. It’s a privilege to contribute to such a large-scale and impressive project that will benefit the students of Leeds and surrounding community.”

Karis Capital’s service offerings have seen their real estate finance team work alongside leading prime property developers and across a number of high-profile projects in recent years. Karis’s unrivalled hands-on experience helps guide their clients to the best rates and lenders in the markets while also pursing maximum returns, building extensive relationships with finance leaders, valuers and lawyers to ensure smooth transactions from start to finish.