CrowdProperty revealed recently that it has now “funded more than £700m of property projects and the development of over 3,000 homes.”
Having agreed £24m in June alone, the business has now “closed in excess of £400m of facilities to support the construction of residential and mixed-use property developments across the UK.”
These latest milestones “follow a busy quarter for the business, in which CrowdProperty secured new lending partnerships with British Business Investments and a UK bank; [and] expanded its Credit team to provide enhanced support to developers.”
Mike Bristow, CEO of CrowdProperty, commented:
“Our continued growth speaks to the ongoing need for specialised finance solutions to support small and medium sized property developers. These property professionals are a vital part of tackling the housing shortage in the UK, with the ability to develop viable projects that would not be considered by the larger firms who provide the majority of new homes. As we approach half a century since the UK built more than the aspirational target of 300,000 homes a year, CrowdProperty is keen to support more property developers through our deep understanding of the property sector and diverse sources of funding.”
As reported last month, the former National Relationship Director at Assetz Capital, Mark Davidson, has joined CrowdProperty as Head of Loan Management.
CrowdProperty is a real estate crowdfunding platform that provides debt capital for property developments. Assetz Capital is a similar platform that provides property-secured finance for UK SMEs, property developers, and home builders. Assetz Capital used to operate a P2P platform that exited that space to focus on institutional money.
Property Director at CrowdProperty, Andrew Hall, said that Davidson is a welcome addition to the CrowdProperty team with a background in relationship management and an extensive network built over decades in the development finance sector.
“With over £700m of property funded and £400m of facilities agreed to date, CrowdProperty continues to grow rapidly and work closely with even more developers to achieve their property development goals.”
