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Bridging finance
The alternative lender is looking to grow its evergreen global Mortgage Income Fund to $500m in the next few years.
The investment will allow UK fintech firm LendInvest to expand its mortgage lending strategy, with a focus on environmental upgrades.
The vehicle will primarily lend against PRS and student accommodation assets in Spain and the UK.
The bridging finance specialist, now owned by executive director Dan Smith (pictured) and Arthur Jennings, will continue to focus on medium-sized loans.
The specialist lender is targeting double-digit returns in the UK bridge finance market.
A survey of UK debt trends shows alternative lenders are encroaching further into senior banks’ territory.
Glenhawk, a London-based bridging finance provider, is the latest start-up to target the gap in the UK market for short-term property finance focused on developments.
JPMorgan has provided a €150 million bridge loan to accelerate Spanish land acquisitions by local developer Neinor Homes.
Amicus Property Finance, the short-term property lender, has announced its largest monthly lending volume since it launched in 2009, with £72 million (€79 million) written during July.
Brightstar Financial, a UK-based specialist lender, has launched a new division called Sirius Private Clients that will focus on financings for high net worth (HNW) residential and commercial real estate transactions.