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Development finance
The private lender has provided a £53.9m loan to Meadow Partners for a London development.
TH Real Estate, Allianz and a third undisclosed debt provider provide a six-year bullet loan for the landmark 80 Fenchurch Street building with a LTV understood to be in the 50% range.
The bridging finance specialist, now owned by executive director Dan Smith (pictured) and Arthur Jennings, will continue to focus on medium-sized loans.
The German insurer is aiming to diversify its property loan book with ‘enhanced’ lending products.
A survey of UK debt trends shows alternative lenders are encroaching further into senior banks’ territory.
Titlestone Structured Finance and Shawbrook Bank have provided £42.5m across two facilities for a London residential scheme.
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.