Residential development lender Pluto Finance has exclusively revealed that it is approaching the £1 billion mark for completed transactions with a combined GDV.
Pluto has been providing loans to the UK residential development market since the credit crunch in the form of stretched senior funding and mezzanine, such as a recent £10 million facility to turn Connaught House, a former Metropolitan Police accommodation block in Muswell Hill, into 26 apartments.
Another £25 million development facility has just assisted with the conversion of Premier House in Edgware into 112 apartments.
Partner of Pluto Finance, Justin Faiz, said: “We are delighted to have supported our clients in reaching the combined £1bn GDV milestone and continue to have strong appetite to lend to residential developers throughout the country.”
Pluto also funds mezzanine loans ranging from £750,000 to £5 million and can provide up to 90 per cent of development costs with a single loan.
Residential development lender Pluto Finance has exclusively revealed that it is approaching the £1 billion mark for completed transactions with a combined GDV….
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