The facility will support the construction of Radcliffe Court, a 26-executive apartment scheme worth £16m, which will be built over a two-year period.
The property will offer residents access to private landscaped gardens and sits on a prime position on the seafront.
The deal marks LEXI Finance’s third notable transaction in the South West in recent months, following a £9.7m development loan in Devon to support regional housebuilder Blakesley Estates, and a £46.5m investment loan across multiple assets in Southampton.
Sam Le Pard, co-founder of LEXI Finance, said: “We’re proud to have worked with Hartdene Homes to secure funding for Radcliffe Court, which will inevitably become a landmark building on Bournemouth’s coastline.
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“LEXI continues to support developers to secure the most appropriate funding for their projects and is very grateful to Shawbrook for its diligence in underwriting this scheme, offering market leading terms, and being unwavering in its execution.”
John Hughes, director at Shawbrook, commented: “The South and South West have proven popular for new developments over the past year, especially as more people work from home and can relocate to coastal areas or look to buy second homes in the UK.
“Radcliffe Court is a particularly interesting project as it combines new luxury homes with an art deco style, which is in keeping with the character of the area.
“Having been approached by Sam to discuss this opportunity, we knew of the reputation that the Hartdene team has in the region and were impressed with the quality and attention to detail shown on the Radcliffe Court development.”
Tristan Pinckston, director at Hartdene Homes, added: “We established Hartdene to build high quality homes in premier developments across the Christchurch and Poole Bay area that provide design-led living spaces for our clients.
“A big thanks to Sam for structuring the funding to support our model and John for delivering on Shawbrook’s commitments.”