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Development finance
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.
Select Property Group has sourced a £108.9 million (€123 million) loan from a club of lenders to fund the development of a build-to-rent scheme in Manchester.
Lloyds Bank has written an £82 million (€92 million) whole loan to developer Ballymore to bring forward an office building at Embassy Gardens, its regeneration project close to the site of the new US embassy in London’s Nine Elms.
UK-based development finance provider Maslow Capital has completed four financing deals totalling £74 million (€83.8 million), in a move to diversify its loan book.
Germany’s HSH Nordbank has provided a €139 million loan to domestic developers Aug Prien Immobilien and DC Developments to fund a residential scheme in Hamburg.
Market players should help tackle the UK’s housing shortage in 2018, writes Randeesh Sandhu, CEO of residential development finance specialist Urban Exposure.
German bank pbb Deutsche Pfandbriefbank has provided a €140 million loan to local developer Gerchgroup to fund a land acquisition in Cologne, Germany.
Investec Structured Property Finance has provided a £46 million (€52.3 million) financing facility to residential developer Westbourne Capital Partners.
Lloyds Bank has signed the first development finance deal under its green lending initiative, providing a £39.9 million (€45.3 million) loan to BlackRock Real Estate.
Continental European markets offer developers and lenders opportunities to back
residential projects.