The 12-month loan will be used to deliver five individual modular properties with eco credentials.
PMJ is providing a bespoke cashflow facility and a tailored repayment structure, which allows part-recycling of sales receipts, thus enabling the LTV to be pegged at around 50% of site and work-in-progress value.
The Willowpool four-acre scheme, worth £3m, will offer a range of 13 park homes tailored to suit the over-55 retirement market.
Arbor Living has already delivered the first phase, consisting of eight homes.
- CrowdProperty nears £100m lending milestone with 'big ambitions' ahead
- PMJ Capital assists Sheffield BTR development with planning costs
- Lister Carter Homes secures over £5m for housing development in Cheshire
Graham Richardson managing director at Arbor Living said: “The team at PMJ quickly understood the Arbor concept and market.
“They structured a deal which fully met our requirements and, most importantly, delivered on the transaction both to timescales and with the minimum of fuss.
“We hope that this will be the first of many deals we can work on together.”
David Rainford, managing director at PMJ Capital, commented: “Having known Graham for over 15 years, his credentials and experience are undoubted when we discussed this latest project.
“With a proven concept in Arbor Living, both in the first phase at Lymm and Lakeshore in Lincolnshire, the quality of the proposed scheme was clear to see, and PMJ are proud to have been able to support on this second phase of development.”