The 21-month facility will support the development of the 13-unit project, which will consist of three buildings between two and three storeys, sitting on a 0.7-acre brownfield site on Denewood Road.

To ensure residents’ mental wellbeing, the scheme will also include private terraces overlooking the surrounding communal gardens, an on-site spa and a gym.

In addition to living roofs and PV solar panels, the development will use timber sourced from certified, well-managed forests and/or recycled materials, ensuring a BRE Green Guide of specification is achieved.

The scheme will be finished by autumn 2023.

This is the fourth loan Arc & Co has completed in the past week, adding up to over £35m of new lending.

Over the last six months, the brokerage has advised on 36 transactions totalling more than £500m.

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James Henry, deal originator at Maslow Capital, said: “Maslow is delighted to be partnering with ME Developments on the delivery of Highgate Mews, which marks another step in its already well-established track record of delivering high-quality residential homes. 

“It was a pleasure working with Arc & Co on this opportunity, which provided invaluable support. 

“We look forward to further cementing Maslow’s already strong relationship with Arc & Co on further opportunities throughout the remainder of 2022.”

Simon Marshall, CEO at ME Developments, commented: “It was a pleasure to complete our first deal with Maslow Capital and we look forward to building a strong relationship with it as we embark on our target to build over 500 homes in the next 36 months.”

Cameron Hayes, structured finance adviser at Arc & Co, stated: “We are delighted to complete on this opportunity with Maslow, which was excellent to work with and helped structure a competitive solution for the client.”

Andrew Robinson, CEO at Arc & Co, added: “We’re very pleased with how the year has started and look forward to another big Q1.”