The Yorkshire company recently secured funds totalling £3.2m for three projects across the North of England, including a £720,000 loan for 10 family homes in South Hiendley, West Yorkshire.
The second deal was a £1m loan to fund the construction of four luxury homes in the Chorlton Green area of Manchester, which will boast en-suite double bedrooms, underfloor heating and roof terraces.
In this particular case, Xander stepped in when the development experienced delays due to the pandemic and arranged a CBILS loan to help refinance and rescue the project.
The third facility which took the brokerage over the £10m milestone was a £1.45m loan for the acquisition and refurbishment of an historic Victorian mansion and rear coaching house into 13 apartments near Crosby Beach, Merseyside (pictured above).
- 'If you overpay for the land, you'll never recover from that', warns Shojin CEO
- Xander Wealth completes £2.7m investment deal for 17 eco apartments
- A lot of risk would be mitigated if independent monitoring surveyors were more experienced, claims developer
Kristian Alexander Wilkinson, founder of Xander Wealth Commercial Finance, said: “For a relatively new finance business, barely out of our second year, to surpass £10m despite Covid challenges is an amazing achievement and testament to both the resilience of the economy and confidence of investors in the North of England.
“Coupled with our in-house, bespoke software which matches our investors’ criteria to each application, has laid the groundworks for our success.”
Xander Wealth Commercial Finance is currently working on more projects in Wales, Cornwall, Bristol and London, as well as deals in Yorkshire.
By the end of this year, the brokerage aims to have structured and arranged finance packages worth an additional £20m, which will take the total funds raised by up to £30m.