Cole Waterhouse and Taurus Investment Holdings have completed the £57m refinancing of the EDA build-to-rent scheme in Salford Quays, Manchester, with Cynergy Bank.
The facility will support the continued growth of the 290-unit development, which was delivered through a joint venture between Cole Waterhouse and Taurus Investment Holdings in 2023. The scheme is currently 95% occupied.
Bill Garey, chief investment officer at Taurus Investment Holdings, said: “We are pleased to extend our successful partnership with Cole Waterhouse. The refinancing of this development with Cynergy Bank underscores the project’s strong performance and its significant achievements.”
George Smith, director at Cole Waterhouse, added: “Securing this refinancing is a significant milestone for the development. It reflects the project’s strong performance and the confidence that our partners have in it’s long-term success.”
Dan Whiteman, relationship director at Cynergy Bank, said: “Cynergy Bank is proud to support this £57m refinancing for a 290-unit BTR scheme in Salford Quays. This deal aligns with our commitment to backing high-quality property ventures and contributing to the growth of the UK’s housing sector.”
