Lendhub have announced they will now be offering mezzanine funding following the completion of a £1.6m mezzanine arrangement that will enable the conversation of a large commercial unit into 248 apartments.
The development is located in South East Birmingham, situated close to shops, amenities and multiple train stations, thus making it a very attractive investment prospect.
Tipped as the highest UK city for investment prospects, Birmingham is outshining the capital and other economic powerhouses with its regenerative potential and property price projections.
The total facility is in excess of £35m and has been co- funded by two other lenders.
The developer leading the project has an exceptional record of converting redundant office space to residential apartments, targeting city workforce in key commuter locations.
This news follows the company’s recent announcement of collaborating with Aldermore and Proceed Capital on a £34m development deal in Canary Wharf.
Christopher Adamou, Managing Director, commented “Following the completion of our second mezzanine facility this year, we are now pleased to officially offer the product to our brokers and look forward to this opening the doors to work with more quality developers.