The London-based private real estate company has secured two funding facilities from the P2P lending platform: a £1.9m facility to develop four residential properties in Brockley, south-east London, and a £2.3m facility for eight new homes (pictured above) in Sutton, south London.
RAA Developments has over 20 years of of experience in visualisations, refurbishment, design and new-build properties, and has a strong track record for developing residential properties in the South.
Andrius Augunas, chief executive of RAA Developments, said: “Assetz Capital was incredibly supportive of our proposition, and with this funding, we are able to build 12 state-of-the-art homes.
“We were entirely new to P2P lending, but Assetz exceeded all expectations and delivered two excellent facilities in a short timeframe.
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“The speed of delivery and specialist knowledge of the team places Assetz Capital above any lender I have previously come across, and I look forward to continuing our work with the firm.”
Mark Davidson, regional relationship director at Assetz Capital, added: “Everyone is aware of the housing shortage in London and how this brings a challenge to prospective buyers in the region looking to get on the property ladder.
“With this in mind, it is important that lenders make funding available to developers looking to boost new builds in the city.
“RAA Developments is a fantastic business, building high-quality houses in the South, and we are proud to support its latest venture.
“This deal indicates a strong start to the new year and we will continue to provide vital funding to other ambitious developers across the UK.”