Finanze Strategy, the engineering and design arm of Finanze Group, has secured an exclusive £1bn development finance mandate from a leading UK housebuilder.
The funds are to be used for land acquisition and ground-up development of new purpose-built properties along with renovation and repurposing of existing stock for the social housing and supported living sector.
The developer is driven by its mission to support the specialist housing sector which continues to suffer as a result of the shortfall in new housing stock being developed.
It hopes with the above funds to be able to build or repurpose over 7,000 properties and change lives for the better.
Diverging from its previous strategy, the developer plans to retain the stock and refinance onto long-term specialist mortgages, to ensure quality and standards are maintained and the housing remains dedicated to those that need it.
Once ready to lease, Finanze will work with its lending partners to find appropriate funding solutions for them, refinancing the development facilities onto specialist mortgages.
The facility needs will be broken down over five years, with circa £200m being deployed each year, but with a degree of flexibility for the right opportunity, therefore Finanze are inviting lenders, funders and institutional investors who have an appetite to lend in this sector to reach out.
Alastair Hoyne (pictured), CEO of Finanze Group and head of Finanze Strategy, said: “Given the quantum involved it’s highly likely that there are allocators we haven’t previously worked with, who may now have appetite and we would like to invite them to reach out.”
