UK-based property financiers Daniel Austin, Doug King and Paul Stevens have launched ASK Partners, a new real estate finance specialist providing debt and equity project financing.
Predominantly funded by an ultra-high-net-worth family office, ASK Partners offers a range of funding solutions, including bridging finance, senior loans, mezzanine debt and joint venture equity agreements, chiefly in the £1 mln-£25 mln (€27.8 mln) bracket.
'In a market saturated with lenders, our focus is on applying our real estate knowledge to each individual situation, using our flexible capital to create bespoke financial solutions from across the capital structure and for a broad range of ticket sizes,' said Daniel Austin, ASK Partners' chief executive.
Since starting its operations, ASK Partners has closed seven deals in the last six months. 'We are actively looking for more opportunities,' Austin added.
Deals to date include a senior loan secured against six apartments in a completed development in Mill Hill, a planning loan against three adjoining sites in Watford with a combined plot area of just over an acre, and an acquisition and development loan for a scheme of more than 100 homes in Slough.
