Cheyne Capital has announced its fourth funding partnership with Saco Property, taking its total development finance invested to £220m.
Saco will use the funds to develop four aparthotel schemes across London, Dublin and Lisbon.
They will be managed by Saco’s Locke brand and will include co-working spaces, gyms and event areas and independent food and beverage offerings.
Richard Howe of Cheyne Capital said: “The funding of these transactions demonstrates Cheyne’s continued ability to provide flexible loan solutions to complex development projects across multiple jurisdictions.
“As an evolving asset class with strong fundamentals, the aparthotel sector is gathering serious momentum.”
Merzak Kaddour, investment director at Saco, said: “Cheyne Capital offers a flexible approach to debt structuring and a thorough understanding of the sector.
“Their ability to move fast and thus offer certainty of execution across multiple jurisdictions is what sets this team apart.”
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