The new lending partnership is expected to fund senior and stretched senior loans to support the development of homes across the UK, as well as student accommodation, care homes and other mixed-use assets.

This follows the launch of Beaufort Capital’s senior and stretched senior debt product, which offers loans from £10m to £50m at up to 70% LGDV and 85% LTC, for development projects with GDVs between £15m-£75m.

Paul Norman, co-founder and partner at Beaufort Capital, said: “Since the inception of Beaufort Capital, we have focused on providing finance to best-in-class developers across the UK.

“Although we originally provided mainly mezzanine debt and preferred equity to our developer partners, it was always our intention to provide senior and stretched senior debt to better serve our clients’ needs — this is a natural evolution of our business.

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“This partnership with Pollen Street Capital further boosts Beaufort’s ability to provide clients with funding solutions across the capital stack, ensuring we can provide whatever capital they require, swiftly and competitively.

“We have been very impressed by Pollen Street Capital, and its approach to lending chimes well with our own; we are looking forward to a long and successful partnership together.”

Howard Garland, partner at Pollen Street Capital, commented: “We look to partner with expert lenders which have deep experience in the sector, and so we are delighted to announce this new JV with Beaufort Capital.

“Pollen Street Capital’s real estate strategy focuses on bridging and development funding through our selective partnerships with real estate lending platforms, to a market that is increasingly underserved by mainstream banks. 

“Our new partnership with Beaufort fits well with this strategy and our ambition to support the development of much-needed new homes in the UK.”

James Bevans, investment director at Pollen Street Capital, added: “We are excited to build this partnership with Beaufort. 

“We have been impressed by its professionalism, attention to detail, diligent approach which has a strong emphasis on ESG, and its network of high-quality borrower clients. 

“Beaufort’s values align with our purpose-driven approach to lending.”