Ingenious Real Estate has completed its two largest loan deals to date worth more than £40 mln (€45 mln) for projects in the south of England.
'The size of these deals represents a significant milestone for our team as we continue to realise our growth ambitions in the UK property market,' said Tom Brown, head of Ingenious Real Estate.
'The location and quality of the projects is outstanding and we are confident that they will contribute to our track record of successfully executing large scale investment projects.'
The alternative lender has provided a £21 mln (€24 mln) loan to Ensco Homes to fund the development of residential units at Villiers Point in Kingston, comprising 50 properties. The scheme includes a ground floor pre-let commercial building, 10 affordable housing properties and 39 private units. The deal was introduced by broker John Philips of Kingswood Associates.
'We are delighted to have forged a new relationship with Ingenious. Villiers Point continues Ensco’s focus on quality housing in desirable areas and we look forward to working with Ingenious on this exciting project,' said Tom Spanner of Ensco Homes.
Ingenious has also loaned a further £19 mln (€21.5 mln) to construct 39 flats and 24,000 ft2 (2,230 m2) of office space in London’s Southwark district.
With these two deals, Ingenious has now deployed over £250 mln (€283 mln) in UK residential and commercial loan facilities since its inception in 2014.
Ingenious Real Estate is the the property investment division of alternative investment manager, Ingenious.
