A total of £37m will see the phase one development of a ‘second home scheme’, located within the Cotswold Water Park area.
With a GDV of £82m, the transaction will fund the build of 63 x 1,000 sq ft apartments across eight blocks, all of which are located around the shoreline of The Lakes with waterside views.
An additional £14m facility will be used to develop a residential scheme situated in Tottenham, in the borough of Haringey, north east London, that will add 48 apartments and two commercial units.
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With a GDV of £28m, the scheme — which already has planning permission — will have dual aspect views overlooking an internal courtyard space and the external surrounding area.
As part of the developer’s commitment to the local area, regeneration work will also be carried out on the adjacent park.
Emma Burke, deal origination at Maslow Capital (pictured above), said: “We are very happy to have progressed and completed on these two development facilities in the midst of a pandemic.
“Both borrowers are experienced developers who have secured excellent planning permissions on their respective developments.
“The scheme in the Cotswolds is in an area of natural beauty, and with the impact of Covid-19, demand for this product has seen significant growth as people within the UK seek staycation holidays.
“The second development . . . will be aimed towards families and first-time buyers.
“The scheme also includes a provision for affordable office space, which will help to generate employment in the local area.”