OakNorth Bank has provided a £25m loan to Blue Shield Capital to expand its bridging loan offerings across various real estate sectors.
Founded in 2020 by Gil Ulrich and Jonathan Hitter, Blue Shield has quickly established itself in the market, underwriting senior bridging loans backed by UK real estate, particularly in prime cities and suburban areas.
The injection of funds from OakNorth will support new projects in residential, commercial, retail, industrial sectors, as well as light refurbishment, bridge-to-let, and land.
This strategic financial support comes after the international real estate conglomerate, the Wynn Group, became a major shareholder in 2023, significantly boosting Blue Shield’s portfolio and market presence.
Gil Ulrich, CEO of Blue Shield Capital, highlighted the firm’s commitment to setting new standards in customer satisfaction through a rapid, borrower-centric approach. “With their financial backing, we’ll be able to fund new real estate bridging loans at speed, while providing the necessary flexibility to meet our customers’ financial demands,” Ulrich said.
Mohith Sondhi, senior director of debt finance at OakNorth, noted the exceptional growth and potential of Blue Shield Capital. “In just a few years, they’ve grown into a trusted brand with an expanding portfolio and a loyal customer base, enabling the business to attract investment from one of the most respected players in the industry – the Wynn Group,” Sondhi explained.
