How are Development Tranches paid back?

On Development Tranches, the pari passu principle applies. This means that all lenders must share equally any proceeds from the sale or refinance of the property assets, in proportion to the debts due to each lender.

For Development tranche loans, repayment of capital and payment of interest will be applied on the following basis: All lenders in all tranches will share equally any proceeds received from the sale or refinance of the property assets, in proportion to the debts due to each lender

 

Updated 19th July 2021