OakNorth completes £16.75m loan to family-run Capital Developments Group to support future growth
OakNorth, the neobank for entrepreneurs, by entrepreneurs, has provided a £16.75m loan to Capital Developments Group, the privately owned property development and investment company.
Capital Developments Group expanded in 2020 and is run by Colin and Jordon Foux. The firm specialises in acquiring residential and commercial property across London and the Home Counties.
With over 40 years of experience working within the property industry, Capital Developments Group expertise allows it to enhance and unlock the potential of challenging sites by resolving complex planning and technical issues.
The firm’s recent projects include new build housing, flats and mixed-use schemes throughout London and the Home Counties together with various conversion and refurbishment opportunities.
The £16.75m structured debt facility will be used to provide Capital Developments Group with the financial backing for further expansion securing both new value-add and investment opportunities.
Colin Foux, Director of Capital Developments Group, commented:
“All our professional teams at Capital Developments Group continue to pride themselves in creating high quality and design-led schemes.
In doing so, we are delighted to be supporting various local communities, whilst also providing both innovative and sustainable environments for people to live and work.
This new funding provided by OakNorth will no doubt provide us with the financial firepower to increase the size of our investment portfolio and help us capitalise on further exciting development and investment opportunities moving forward.”
Jordon Foux, Director of Capital Developments Group, commented:
“We are delighted to have the support of OakNorth in providing this loan facility, which will play a crucial part in enabling us to carry out our exciting growth plans for the coming years.
In addition to having significant experience and knowledge of the region’s residential and commercial property markets, Anirudh and the OakNorth team created a bespoke funding package that was designed specifically for our requirements.”
Anirudh Kare, Associate Director of Debt Finance at OakNorth, added:
“Under the leadership of both Colin and Jordon, Capital Developments Group has built up a hugely impressive track record of developing high-quality real estate assets across the South East.
Family-run businesses play a vital role in local communities and economies, and we are thrilled to be able to support them with funding that will help accelerate their growth ambitions.
We look forward to watching all of the firm’s latest projects take shape, as well as assisting with its growth story going forward.”