FRP backs luxury Alpine development

A UK real estate finance advisory firm has secured a multi-million-euro funding package to support the future development of a luxury Alpine residential scheme in France.

FRP Real Estate Advisory has arranged a €16.3m bridging facility for a ski-in, ski-out development site in La Daille, Val d'Isère, giving the borrower time and working capital to secure a joint venture partner for a branded residences project with a projected gross development value of €180.5m.

The site comprises two existing chalets and associated buildings across three land parcels, with full planning consent already in place for 12 luxury penthouses alongside spa, restaurant and concierge facilities.

Structured through an A/B note arrangement with two capital providers, the 12-month facility includes a six-month extension option and was completed at a net loan-to-value ratio of 48.16 per cent.

The deal reflects continued investor demand for prime Alpine development opportunities, with Val d'Isère remaining one of Europe’s most sought-after ski destinations thanks to limited supply and sustained international buyer interest.

Led by finance advisor Arjun Saroya, with support from Philip Kay and Andrew Robinson, the transaction further strengthens FRP Real Estate Advisory’s growing track record in delivering complex, structured real estate finance across international markets.

Arjun said: “This was one of those transactions where nothing stood still for long. 

“The capital stack shifted, terms were re-negotiated, and the structure had to evolve at each stage to reflect a deal that was constantly moving. 

“What made it work was the team’s ability to stay pragmatic and keep all parties aligned, even when the ground shifted beneath us. 

“What we ultimately delivered was a clean, well-priced facility that gives the borrower breathing room to find the right partner for what is an exceptional site. 

“A ski-in/ski-out land holding in La Daille with planning consent at this level does not come along often, and we were determined to make sure the funding matched the quality of the opportunity.”

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