Nordic real estate development finance provider Kinnerton has formed a new partnership with international investment firm Avenue Capital Group, focused on real estate development lending across Denmark, Sweden and Finland.
The Copenhagen-based credit management firm said the two partners aimed to lend more than €200m over the next 12 months.
The duo plans to focus its lending on affordable residential projects and logistics assets, as well as funding developments in various different property sectors over the longer-term, according to Kinnerton.
Matthew Baker, managing partner of Kinnerton Capital, said: “This new initiative continues our mission to address the ongoing funding gap left by traditional lending sources.”
Baker said Kinnerton and Avenue now looked forward to working with existing and new real estate development partners to finance “innovative and sustainable projects” in the Nordics.
Kinnerton said it was advised by Colliers Debt Advisory Nordics in structuring the partnership, with DLA Piper and PWC having served as legal and tax advisers respectively.
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