Hilco Real Estate Finance has provided a £13m development exit loan to Craftworks, an architect-turned-developer, against a 24-home scheme in Denmark Hill in the London Borough of Southwark.
HREF provides property finance solutions across the UK, for various real estate sectors and capital structures. It offers short-term loans for growth, acquisition opportunities, development exits and refinancing exits, with loan sizes ranging from £1m to £50m-plus.
Sean Adams, managing director at HREF, said: “Having supported a number of development exits over the past 12 months, we are continuing to see a high level of enquiries and are always keen to consider good-quality schemes that simply need some more time to sell.
“The Southwark development is a great example of this type of project – we believe the combination of an experienced developer and well-designed, luxurious apartments in a sought-after location will appeal to prospective occupiers.”
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Image © Craftworks
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