Digital lender Assetz Capital has shared information on two transactions. Assetz Capital is an online lender supporting the property development sector.
According to the company, one transaction included a £5 million commercial mortgage to refinance an ibis Styles hotel at Waterloo Street in Glasgow, owned by a private equity firm.
The second financing is for a £7 million development finance deal, which will enable the development of three luxury detached properties in Surrey.
Andrew Fraser, Chief Commercial Officer at Assetz Capital said the two most recent transactions for £12 million highlights their expertise across all facets of the property sector.
“It showcases our capability to successfully support business no matter the type of project or location. From financing the hotel and leisure industry to enabling ambitious ground up residential property developments across every region of the UK, the team at Assetz Capital have decades of property banking experience to enable these deals to happen for our brokers and customers. We are extremely lucky to have in market boots on the ground to enable us to support all regional property investment and development funding.”
The company said the two deals follow the launch of its “enhanced initial day 1 funding” for projects up to 70% of LTGDV. This offer is available through its locally based teams across England, Scotland, Wales, and Northern Ireland.
Since its inception in 2013, Assetz Capital has provided over £1.7 billion in funding to UK housebuilding and development. Over the next three years, Assetz Capital anticipates exceeding £2 billion in funding.
