Private equity firm raises £12.7m for new residential property project

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Private equity firm Maven Capital Partners has agreed a joint venture with housebuilder Taggart Homes to develop 150 homes in Mansfield, Nottinghamshire.

The transaction includes a £3.9m equity fundraise from Maven’s co-investor syndicate, Maven Investor Partners, alongside a £8.8m debt facility from Paragon Development Finance.

The Mansfield development represents Maven’s second residential JV project in recent months following the announcement of its partnership with Calmont Homes to build 61 homes at Oak Meadows in the village of Middleton St George, near Darlington.

The development will be delivered over five phases and is expected to take three years to complete. A mix of apartments, terraced, semi-detached and detached family homes are being planned with 120 for private sale, 20 for affordable rent and 10 shared ownership. Total Development

 link source - The Business Desk

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