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Development finance
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.
Residential development in Spain is back, with banks again willing to provide finance and reckless lending a thing of the past.
London’s luxury flats are out of favour with lenders, as they focus on what is deemed ‘affordable’ residential in the UK capital.
German bank Pbb Deutsche Pfandbriefbank has financed a development in Munich’s city centre, with a €112 million loan provided to the Brecht-Bergen family.
When it comes to financing residential, it would be wise to choose schemes local people can afford to live in.