Recognise Bank has completed a £4,225,000 bridging loan for a co-living scheme in Hertfordshire.
The facility will allow the borrower to apply for new planning permission to change an approved 124-bed hotel into a co-living development with more than 300 units.
Ian Fields, senior lending manager at Recognise Bank, said: “This deal is a great example of how our personalised approach to lending allows us to support forward-thinking projects such as these.
“We are delighted to have partnered with Colin and the LDN Finance team to support the client’s novel growth plans.”
Colin Anderson of LDN Finance said: “Recognise Bank brought exactly the kind of insight and responsiveness our client needed in order to navigate a complex brief. Ian and the team demonstrated a clear understanding of both the challenges and potential of the deal.
“Their collaborative and agile approach helped us to deliver a strong outcome – and a very happy client.
“We look forward to working with Recognise again in the future.”
