Residential real estate: real estate group

Company overview:

  • Real estate group consisting of a developer, architect bureau and a general contractor
  • Offers apartments and houses in the centre and other districts of TOP5 Polish city, supplemented by commercial investments, office space and real estate services
  • Stable profitability in the double digits

Need description:

  • The company has been focusing on buildings covered by conservator protection, that are more risky and more profitable than normal housing projects. Conservator protection usually lengthens permits stage of the project, hence timing of cash inflows is more troublesome than in typical residential RE company.
  • The company was operationally healthy, suffering only from temporal lack of capital for current operations and land purchase due to reasons mentioned above

Investment overview:

  • Junior financing (subordinated to bank loans)
  • 3-year maturity with option of early redemption
  • Collateral included guarantees from the Sponsors and related parties


Size: PLN 25 million

Date: 2017

Financing type: senior

Use of proceeds: Working capital (i.e. land purchase)