GREECE... It Sounds All Greek to Me!
Actually… not anymore.
We’ve recently completed Development Funding transactions for experienced Developers in Greece, further demonstrating that there is strong appetite from Specialist Lenders for well-structured opportunities in the region.
The facilities supported Capital raises ranging from €5 million to €20 million, with Developers typically contributing 20%+ equity, alongside Personal Guarantees where appropriate.
While every project is assessed individually, Development Finance in Greece broadly follows familiar UK and European lending principles, albeit with slightly more conservative leverage:
- Typically 80-85% Loan to Cost (LTC)
- Around 60-65% Loan to Gross Development Value (LTGDV)
- Full Planning permission and all statutory consents in place before Funding
- A robust Appraisal, credible GDV and a clearly defined Exit Strategy
The demand for quality Residential and Mixed-use Developments across Greece continues to attract Lender interest, particularly where experienced sponsors bring strong equity and a well-executed business plan.
It’s encouraging to see more International Developers recognising the opportunities available in this market, backed by Specialist Funding Solutions.
If you’re looking to Finance a Development project in Greece, I’d be delighted to discuss how we may be able to structure the right Funding Solution.