Urban Exposure

Urban Exposure closes three loans worth £104m

Urban Exposure PLC has successfully closed three loans with a total value of £104m.

The loans are the development finance lender’s first since its successful admission to the AIM of the London Stock Exchange, which raised gross proceeds of £150m for balance sheet lending.

The three loans cover development projects in Nottingham, Cardiff and Greenwich and have values of £13.65m, £18.525m and £71.8m respectively. 

Urban Exposure said it was currently working on a number of other potential loans which it expected to close shortly. 

“We are pleased to have committed almost 70% of the funds raised at our IPO in May this year and have begun our life as a listed company with positive trading momentum,” said Randeesh Sandhu, chief executive at Urban Exposure (pictured above). 

“In line with our strategy, we continue to review further opportunities to provide finance to residential developers around the UK, utilising our balance sheet lending funds, while continuing to grow our third-party asset management business.”

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