Market sources say non-bank lenders dominate the financing of such schemes as they look for returns in parts of the market underserved by traditional banks.
Following its financing of a regional UK office-to-residential conversion, the lender’s chief executive says repurposing projects are creating opportunities for debt providers.
Mark Bladon, head of real estate at the banking group since January, plans to grow its exposure to build-to-rent residential and logistics, as well as its syndication capabilities.