Assetz Capital has provided a £705,000 development finance loan for the final phase of a 33-unit housing scheme in Cullybackey, Northern Ireland.
The loan will fund the last five detached and semi-detached houses at the site.
The borrower, a repeat client, has already completed three earlier phases of the project.
Ciaran McGivern, relationship director for Assetz Capital in Northern Ireland, said: “We are delighted to have now provided the final funding to complete this scheme of 33 units, while supporting a strong and reliable regional developer.
“The borrower was advised by Kyle Lindsay of Lindsay Commercial Finance, who was been instrumental in agreeing a flexible facility structure aligned to the schemes progress since the inception of the development.
“Our presence in the area has enabled us to finance developments across Ballymena, Cullybackey, Ballymoney, Portrush and Coleraine.”
McGivern added: “The ability to offer funding from BoE + 4.6%, combined with our speed and appetite, continues to drive developers away from traditional banks and towards more responsive lenders like us.”
Andrew Fraser, chief commercial officer at Assetz Capital, said: “Northern Ireland remains a strong area for Assetz Capital where we’ve funded the construction of 721 homes.
“We are really proud of our developer customer base and what they are delivering across the region.
“From Belfast to Strabane, if the developer and the scheme make sense, we will try and find a way to support it.”
