The funding has been secured by Torsion Developments, the development arm of Torsion Group, to deliver Flax Place in the Yorkshire city.

This will create 300 apartments on a vacant brownfield site in the east of the city.

Designed by Day Architecture, Flax Place will comprise a nine and 14 storey tower which will be linked by a shared podium.

Flax Place will also include communal lounges, co-working spaces, on-site leisure facilities and secure cycle storage.

Construction began in the fourth quarter of 2024 with all four concrete cores now complete and the site scheduled for practical completion by April 2027.

•   The Finance Professional Show 2024: The Video
•   Maslow boosts Dublin presence with key hires and relocation
•   Maslow and QIP secure fourth funding deal with £14m development loan

This is the third transaction between Maslow and Torsion in Leeds, with the latest deal supported by GLPG acting as capital advisor to the latter.

“We are delighted to partner once again with Torsion Developments, whose delivery capability continues to impress,” said Emma Burke, managing director of development finance at Maslow Capital.

“Flax Place will play a vital role in narrowing Leeds’ acute housing shortfall while offering residents best-in-class amenities.”

David Worsley, COO at Torsion Group, added: “Having a lender that consistently champions both Torsion Developments and the wider Northern economy - while bringing deep expertise across the UK and European real estate landscape - gives us the confidence to deliver forward-thinking schemes such as Flax Place, bringing premium, institutionally backed rental homes to one of the country’s most dynamic regional cities.”