- Rebecca Barrett
Following an outstanding Q1 after originating £42 million of lending, specialist real estate lender Cohort Capital has closed its deals for this quarter with an additional £8.5 million loan.
The £8.5 million development exit loan was provided to a regional property developer against a newly completed scheme of 45 high quality and affordable homes in Godalming, Surrey. As a result of Cohort Capital’s involvement, the developer can now take the time required to market the apartments to achieve best value. This in turn eliminates the previous need to dispose of them quickly through the expiry of the development loan term, which was fully utilised due to Covid-19 delays.
With a thorough understanding of the underlying new build security through its exposure via the SevenCapital Group, Cohort Capital was able to ensure the relevant build warranties, quality of product and marketing strategies were all in order. The borrower will also benefit from the sales platform and infrastructure offered by the leading UK property developer.
The lender is entering Q2 with an even larger pipeline following the £42 million of lending in Q1, and Cohort Capital’s appetite for credible lending transactions remains strong.