Maslow completes financing quartet

By James Buckley - Monday, January 08, 2018 10:23

Maslow Capital, the specialist real estate development finance provider, has completed four major financing arrangements which will see the delivery of more than £74m of new developments.

The four deals provide funding for new residential developments in London and Manchester, delivering more than 80 new apartments and new commercial space along with 211 student beds in Coventry, and 246 in Sheffield. In aggregate, the developments will deliver more than 195,000 sq ft of new space in sought after locations.

Specifically these loans will assist with the delivery of 18 new apartments and a new commercial unit at Halt Parade, London, NW9 arranged over six floors and the construction of 66 new flats which will be delivered in the Ancoats district of central Manchester, addressing continuing need in the city for well-located apartments.

In Coventry and Sheffield, the funding packages will see more than 450 new student beds brought to market in cities where university accommodation continues to be in high demand. Both cities are growing as centres for education, and these new facilities, which will be located near main university campuses, will be completed in time for the 2018/19 academic year.

The deals represent a continuation of Maslow’s diversification of its exposure into different real estate market segments covering residential, mixed-use and purpose-built student accommodation across the UK.

Ellis Sher, CEO of Maslow Capital, said: “We witnessed strong growth in our lending levels through 2017, both measured by volume and value with an increase in our average loan size. It is particularly encouraging to see the continued growth in demand in key strategic regions of the UK, where we see further opportunities moving into 2018.

“With our rapid decision making, rigorous due diligence and deep knowledge of the development process, we remain well placed to support both new and existing clients to bring their plans to fruition.”

Towards the end of 2017, Maslow completed two further lending transactions in the student accommodation sector, which will enable schemes in Durham and Nottingham to be delivered in time for the 2018 intake. As a result, Maslow has now completed 11 deals in the student accommodation sector, with a combined GDV of more than £180m and delivering 500,000 sq ft of new student accommodation in total.

jbuckley@costar.co.uk

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