Vantage Capital Completes Full Exit from Seaton Estates Following Four-Year Investment
Vantage Capital, Africa’s largest mezzanine debt fund manager, has announced the successful full exit of its investment in Seaton Estates, a large-scale residential coastal development located on the North Coast of KwaZulu-Natal, South Africa.
Seaton Estates is promoted by Collins Residential, the residential development arm of a diversified group with interests spanning real estate, hospitality and agriculture in South Africa and internationally.
The development is situated on prime coastal land with direct access to one kilometre of beachfront and comprises 1,150 residential opportunities. These include 600 single residential stands and 22 planned urban developments offering an additional 550 sectional title units. Designed as an eco-conscious coastal estate, Seaton features wild grasslands, rehabilitated indigenous forests and panoramic ocean views.
Key lifestyle amenities include a country club with multi-disciplinary sports facilities, an equestrian centre with arenas and stabling, direct beach access, and 26 kilometres of walking, running and bridle trails through rehabilitated natural landscapes. Future phases of the development will introduce mixed-use commercial nodes incorporating retail, education and office facilities. Seaton is located close to the popular coastal towns of Salt Rock and Ballito.
Vantage Capital first invested in Seaton Estates in January 2022, providing R360 million in mezzanine funding to support the development of initial phases of common-use infrastructure and bulk services, primarily for single residential units. Following a four-year investment period, Vantage has now fully exited the investment through a combination of sale proceeds and a senior debt refinancing by FedGroup.
Werksmans acted as legal counsel to Vantage Capital on the transaction.
Commenting on the exit, Roshal Ramdenee, Partner at Vantage Capital, said the investment demonstrates the role of structured mezzanine capital in unlocking large-scale infrastructure development within complex residential projects. He noted that Vantage’s funding enabled the timely delivery of critical bulk infrastructure, supporting strong sales momentum and value creation across the estate.
Luc Albinski, Executive Chairman at Vantage Capital, highlighted that Seaton Estates was the first investment under Vantage’s Fund IV programme, setting the benchmark for the fund’s strategy. Despite challenges including civil unrest, extreme weather events and regulatory delays, the partnership with Collins Residential remained resilient and highly collaborative.
Jon De Bufanos, Financial Director at Collins Residential, said Vantage Capital’s mezzanine funding was instrumental in enabling the delivery of key infrastructure during the early development phases. He added that the flexible funding structure supported disciplined project progression during a challenging period and praised Vantage’s practical and collaborative approach.
