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The insurance company lender has provided a loan against Get Living’s New Maker Yards in Salford.
The London-based manager was selected to provide the financing because it was able to provide a whole loan.
The loan, to developer ZAR Real Estate, includes capex for an ESG-focused upgrade of the properties.
The London-based lender this week provided a £105m facility for a BTR scheme in the UK capital.
The facility will fund the development of a luxury rental apartment scheme in Manchester.
The German residential landlord issued CHF 150m of unsecured notes, shortly after issuing a sterling bond.
The London-based manager has refinanced Apache Capital Partners’ and Moda’s BTR scheme in Birmingham.
The partnership, which is seeded with an initial £100m, has so far financed a scheme in London’s Docklands.
The specialist lender’s CEO says more equity is needed in the UK residential development market.
The joint venture partners have agreed to a sustainability-linked loan from lenders HSBC and OCBC.