Pluto appoints new lending director with plans to grow PBSA funding

Pluto Finance has grown its London-based team after appointing Guy Norman (pictured above) as lending director.

Guy joins the specialist lender — which provides senior, stretched senior and bridging loans — from RedOak Property, where he was a director with a principal role in purpose-built student accommodation (PBSA) and residential projects. 

Before that, he was part of Knight Frank’s debt advisory team and a member of the real estate origination department at Lloyds Bank.

“I am delighted to have joined Pluto Finance which has strong institutional backing, including a new partnership with the UK’s largest private pension fund (USS),” said Guy.

“This is an exciting time to join as we are launching two new competitive lending products; one focusing on BTR developments and one for stabilised income-producing residential properties. 

“I will also be expanding our funding to PBSA developers, given my experience in this market.”

The lender has completed a £34m PBSA development loan for the Bricks Group to complete a 706-bed scheme in Swansea.

Justin Faiz, partner at Pluto Finance, added: “A big welcome to Guy, our latest, significant hire in our expansion programme as we accelerate our development, bridging and investment lending over the next 12 months.”

The finance provider, which has been actively lending since 2011, is backed by institutional investors and is currently funding the development of over 2,000 new homes in the UK.

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