BRIGHTSTAR GROUP COMPLETES ITS LARGEST EVER DAY
The Brightstar Group has completed its largest ever day, securing nearly £75m worth of finance for clients of Brightstar Financial and Sirius Property Finance.
The record trading day for the group included the completion of a £69m loan by Sirius Property Finance to fund the development of a luxury 291-unit mixed use scheme on the South Coast with a GDV of £98m, completed with Octopus Real Estate, part of Octopus Group.
Devraj Ray, Senior Associate, Structured Finance at Sirius Property Finance, said: “I’m incredibly proud that we have completed this £68m acquisition and development facility for a truly wonderful client.
“The journey has been intense but ultimately so rewarding, as we have invested a huge amount of hard work to structure so many different elements of this deal, which has come together for this fantastic result. We now wait to see the amazing 291-unit seafront development in Poole rise from the ground and take shape.”
Andy Scott, Head of Residential Development, Octopus Real Estate, commented: “It’s always a great achievement to complete a loan like this where we have all worked together towards a result that works for all parties and that we can all be proud of. The expertise, diligence and determination of the team at Sirius enabled us to structure a great solution, and we look forward to working with them again in the future.”
Rob Jupp, Group CEO at The Brightstar Group, said: “We’ve had exceptional days before, but Tuesday 10th May is going to be a tough one to top. Having a market leading brand is one thing, but you also need great advisors in the business, who are determined to do the best for the client, to consistently stay at the top.”