Randeesh Sandhu

Urban Exposure closes £110m of new lending during November



Urban Exposure has completed £110m of new lending during November.

During the period from 31st October to 30th November 2018, the specialist residential development finance and asset management company took its total lending commitments since its IPO to around £340m.

The loans cover development projects across the country, including Chelmsford, Brentwood, Horley and Luton.

Since its IPO, Urban Exposure has committed to the funding of projects representing the construction of 1,531 residential units – of which 208 are affordable housing – and 45,000 sq ft of commercial real estate, which includes office space, retail and a hotel.

The returns on the new loans remain in line with expectations at IPO.

Randeesh Sandhu, CEO at Urban Exposure (pictured above), said: “We’re pleased to have successfully closed new loans totalling £110m during November, which cover development projects across the country.

“This brings our total lending commitments since our IPO in May earlier this year to [around] £340m.”

Urban Exposure is currently working on a number of other new loans, which it expects to close by the end of the year.

 


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