CKC Properties has secured a £21m developer exit loan from Maslow Capital.
The bridging loan will refinance existing debt secured against CKC’s recently completed purpose-built student accommodation scheme in Brighton (pictured), enabling the company to optimise the asset’s performance during the peak letting period.
Located between the University of Sussex and the University of Brighton, the asset comprises three blocks spread across three and four storeys providing 134 modern ensuite studios and extensive communal amenities.
The transaction was structured by Maslow Capital’s short term finance division and introduced to Maslow by real estate debt advisor Beckford Advisory.
Adam Ware, director of structured finance at Maslow Capital, said: “This £21m facility provides CKC Properties with the headroom to refinance the scheme, stabilise occupancy during the peak letting season and prepare the asset for its next phase. We are pleased to support the team at this pivotal stage in the project’s lifecycle. Although the facility sits at the higher end of the bridging spectrum, we remain committed to financing across the full ticket-size range – from granular loans of £300k upwards – backed by a specialist team with extensive experience in small and large deals.”
Geoff Thomas, CEO of CKC Properties, added: “Maslow’s flexibility and understanding of our objectives were instrumental in completing this transaction. Their approach aligned seamlessly with our business plan and provided the certainty we needed to move confidently into the next stage of the asset’s lifecycle. We value their partnership and look forward to future collaborations.”
John Kerrigan, partner at Beckford Advisory, said: “We are proud to have worked alongside CKC Properties and Maslow Capital on this deal. The transaction required a reliable lender with a clear understanding of the asset’s potential and the ability to act decisively, and Maslow delivered on all fronts. Their involvement will provide operational stability, enhance returns on investment and strengthen our clients’ position in an increasingly competitive market.”
