The private equity and property investment company provided £800,000 via a joint venture agreement with the Bristol-based developer, with Avamore lending a further £2.25m.
The development comprises 16 two-bed and one one-bed apartments across the first, second, third and fourth floors of the building (pictured above), which is located in Bristol city centre.
The target GDV of the development is £4.49m, with the project expected to take 18 months for completion.
Coppergate – which arranges joint venture agreements with carefully selected development partners – originates, structures, funds and manages property developments in its own special purpose vehicle.
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“Coppergate officially opened its doors in October 2017 and one of our primary goals was to become FCA authorised and regulated within the first 12 months of operation,” said Charlie Bryant, CEO and co-founder of Coppergate.
“We are very proud to have achieved this as well as launching and closing our first deal within nine months.
“In addition, we are delighted to finally launch our new and updated website.”
Charles Fletcher, commercial director and co-founder of Coppergate, added: “This marks a pinnacle milestone for the business as we bring together the perfect blend of developer, investor and funding partner.
“We are very excited for the journey ahead after what has already been a positive, thrilling and successful first nine months.”
Zuhair Mirza, principal at Avamore, commented: “We are delighted to have partnered with Coppergate on this exciting project and we look forward to working with them on future developments.”