- Founded in 2018, Valpre Capital is a London-based investment firm focused on sourcing, structuring and seeding select real estate and private equity investments;
- CKC Properties is a privately owned developer built on a foundation of specialist skills and experience within the construction and real estate industry;
- The £16.1m loan from OakNorth will be used to acquire a landmark, Purpose-Built Student Accommodation (PBSA) site in Elephant and Castle;
- Located just a two-minute walk from Elephant and Castle station, the 24-storey scheme will comprise of 206 high quality studios and 38 spacious twodios.
OakNorth, the digital bank for entrepreneurs, by entrepreneurs, has provided a £16.1m loan to support a joint venture between Valpre Capital and CKC Properties. The joint venture was represented by Voltaire Financial acting as exclusive debt advisor.
Founded in 2018, Valpre Capital is a London-based investment firm focused on sourcing, structuring and seeding select real estate and private equity investments. To date, Valpre Capital has built a strong reputation for delivering tailored investment solutions with enhanced risk adjusted returns, that leverage over 20 years of individual experience in investments and corporate finance. CKC is a privately owned developer built on a foundation of specialist skills and experience within the construction and real estate industry. The firm has a strong track record in sourcing and developing PBSA and residential developments and has delivered over 1,500 beds with 3,000 currently in the pipeline across the UK.
The £16.1m loan from OakNorth will be used to acquire a landmark, Purpose-Built Student Accommodation (PBSA) site in Elephant and Castle. Located in London’s Zone 1 and just a two-minute walk from Elephant and Castle station, the 24-storey scheme will comprise of 206 high quality studios and 38 spacious twodios, many offering panoramic views over the city. On offer to residents will be a full suite of premium amenities, including a fully fitted reception area, student lounge, gym and entertainment spaces, laundry facilities, as well as 215 bicycle parking spaces. Mazen AbouChakra, Managing Partner of Valpre Capital, commented: “This is an exciting milestone for Valpre Capital as we expand our focus on delivering high-quality student accommodation in prime UK locations. We are delighted to partner with CKC Properties on this development as we grow our presence together in the UK PBSA market. The speed at which Lucas and the OakNorth team worked and the level of expertise they had of the UK’s PBSA sector were key components in getting the deal over the line.”
Geoff Thomas, Founder & CEO of CKC Properties, commented: “We are very happy to partner with Valpre Capital on this landmark project. At CKC Properties, we are passionate about creating developments that meet the evolving needs of students while seamlessly integrating with the local community and environment. OakNorth proved themselves to be a fantastic funding partner – their flexibility, transparency, and entrepreneurial approach was second to none.”
James Thomlinson, Co-founder of Voltaire Financial, commented: “Having acted for Valpre Capital for some years it was a pleasure to manage the debt raising process for this important transaction. This is a high quality scheme in a now well-established PBSA location and the experienced partnership between Valpre and CKC, along with the wider professional team already assembled, is very well placed to successfully deliver this scheme. Lucas and his team at OakNorth were great to work with as always and provided support to us all throughout the process. We look forward to concentrating on the next development funding phase and to working with all parties again in the future.”
Lucas Anglin, Director of Debt Finance at OakNorth, added: “This deal presented an exciting opportunity for OakNorth to support two leading companies operating within the UK’s real estate sector with their maiden JV project. The combination of the real estate expertise from both Valpre Capital and CKC Properties, alongside London’s prominent student market totalling over 400,000 scholars, will no doubt be core reasons behind the project’s success. We were delighted to have been able to fund this project, as we look to continue to develop our expertise in the PBSA space.”
ENDS
Notes to editors
About OakNorth
Launched in September 2015 and founded by entrepreneurs, OakNorth is a digital bank focused on serving and empowering the lower mid-market (businesses with £$1m-$100m in turnover), that are seeking to scale but are routinely underserved or overlooked by traditional banks.
To date, it has provided c.$15bn to these businesses across a wide range of sectors, achieving performance metrics that place it amongst the top 1% of commercial banks globally. Its loans have directly contributed to the creation of 56,000 jobs, and over 34,000 new homes across the UK and the US – the majority of which are affordable and social housing.
It is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.
Visit www.oaknorth.co.uk for more information.
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