Investment manager Downing LLP is pleased to announce the completion of two property loans totalling c£6.8 million and c£1.3 million respectively for developments located in Norfolk and Oxford.
The c£6.8 million property loan will see 24 new purpose-built houses constructed by a new developer client. The new homes will be located in the village of Docking, Norfolk.
The c£1.3 million property loan is an exit bridge provided to an existing developer client of Downing LLP secured against six, two bedroom, flats in the city of Oxford.
Parik Chandra, Partner and Head of Property Finance at Downing LLP, comments:
“We are pleased to continue supporting both existing and new clients with their projects, despite the ongoing uncertainty related to the pandemic. Although summer is traditionally a slower period for the industry we have several deals in the pipeline and have strong appetite to continue funding developers, whether that’s on new schemes or with bridging finance to assist with site acquisitions or refinancing development debt.”