The OXLO project involved the demolition of an existing warehouse to be redeveloped into a five-storey building comprising 63 residential units, including studios, one- and two-bedroom flats, and one-bedroom maisonettes.
It will also provide over 350 square metres of mixed commercial space, with associated car parking and communal areas.
The facility was agreed at 67% LTGDV on a 24-month term.
Simon Whitfield, head of development finance at Castle Trust Bank, said: “We’re delighted to be providing funding for this exciting project in Dagenham.
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“The development is ideally situated and there will be high demand for the units once they become available to rent.
“We’ve provided finance for projects undertaken by Barking Dog Developments before and continue to be impressed by its experience, professionalism and expertise.”
Kirk Pickering, director at Barking Dog Developments, added: “We are delighted to have concluded development funding with Castle Trust Bank for the OXLO Project, an innovative 60-plus unit PRS scheme in east London.
“It supported the delivery team and understood the product, which is a continuation from a previous project also funded by Castle Trust Bank.”