The Kent Excellent Homes for All housing project reached financial close on June 20, 2014.
The project involves the construction and maintenance of approximately 240 affordable housing units spread across seven sites in Kent. Of the seven sites, five will contain housing for the elderly, one will contain housing for homeless people, and one will contain housing for people with mental health needs.
Construction of this PFI project is expected to be complete by early 2016 and the project includes maintenance of the properties until 2040.
The procuring authority for the project is Kent County Council. Nord LB provided £43 million of senior debt for the project, and equity was provided by Galliford Try and Dalmore Capital.
In support of this transaction, Operis were pleased to carry out a financial model audit on behalf of the project’s senior lenders and equity investors.
