CREATING FUTURE CORE:
of development financing to a well respected residential mixed-use developer backed by the founders of a major publicly listed commodities company
stories across two adjacent towers providing world-class residential spaces and retail units with views across Silver Quays and Canary Wharf
four weeks from first call to in principal commitments to fund, three months to close, two transactions in one generated a stable capital structure while enhancing returns
Hoola Towers was a major new development site in the up and coming Royal Docks near Canary Wharf. The severe shortage of affordable London homes was peaking with significant pent-up demand from first time buyers and overseas investors. However, with development funding scarce, the Hoola Towers transaction was faced with extremely difficult credit markets. Yoo Capital Management identified the off-market opportunity to provide £160M of debt funding at attractive yields and completed within 90 days from initial commitment.
Yoo Capital Management identified an opportunity after observing the retail lending market actively seeking yield and slowly opening back up to residential development. Yoo Capital Management structured, negotiated and closed the loan and successfully sold down a significant portion to a global retail bank, enhancing returns while maintaining primary control over the loan.
Yoo Capital Management acted as the Loan Asset Manager and worked closely with all stakeholders, including the borrower and its investors.