FRP Real Estate Advisory completes €16.3m bridging facility for prime Val d’Isère development site
30 June 2026
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, France. The loan provides the borrower with time and working capital to secure a joint venture development partner for a high-end branded residences scheme, with a projected GDV of €180.5m.
The collateral comprises two existing chalets and associated buildings across three separate parcels of land in La Daille, totalling approximately 3,731 sqm. The site benefits from full planning consent for 12 luxury penthouses with spa, restaurant and concierge amenities, targeting an international high-end buyer pool. The as-is land value, independently assessed by Savills, stands at €29.96m.
The facility carries a gross loan amount of €16,345,123, with net proceeds to the borrower of €13.5m, structured across an A/B note arrangement with two capital providers. The loan was completed at a net LTV of 48.16%, with a 12-month term and a six-month extension option.
The transaction reflects growing investor appetite for prime Alpine development land. Val d’Isère has seen property values rise approximately 40% over the past decade, underpinned by restricted supply, a long winter season, and sustained demand from an affluent international buyer pool. Prime ski-in/ski-out opportunities in the resort are rare, and this site, with full planning consent already in place, sits at the top of that market.
The transaction was led by Arjun Saroya, Finance Advisor at FRP Real Estate Advisory, supported by Philip Kay and Andrew Robinson. Securing the right funding structure required considerable coordination across multiple counterparties, with the team’s ability to adapt and maintain lender confidence through an evolving process proving central to getting it over the line.
Arjun Saroya, Finance Advisor at FRP Real Estate Advisory, commented:
“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.”
With the facility now in place, the borrower is well-positioned to advance discussions with prospective JV partners and to bring forward one of the most significant branded-residence opportunities in the French Alps. For FRP Real Estate Advisory, the completion adds further international reach to a growing track record in complex, structured real estate finance.
