Mera IM completes £22m prime residential bridging loan

By Bridging Loan Directory 27th July 2023

Boutique real estate lender, Mera Investment Management (“Mera IM”), has completed a £22m co-loan with Ortus Secured Finance secured against a prime new build luxury home in the south-east of England.

The bridging loan has been taken out by the developer on a two-year minimum term and will be used as a holding facility.

Ed Matthews, chief executive of MERA IM, said:

“Given the unique fundamentals of the ultra-prime residential market, we remain keen to partner with experienced developers and investors in this arena.

We’re particularly proud to play a role in delivering what is likely to be one of the country’s finest luxury houses when complete”.

MERA IM recently announced significant equity backing from a private family office to accelerate its growth plans and future lending ambitions.

With the additional fire power, the specialist lender is now seeking to deploy some £100m of financing this year.

As part of its ongoing growth strategy, MERA IM will be developing its existing team and investing in technology to service increased demand from borrowers.

MERA IM focuses on senior, mezzanine and joint venture equity opportunities in UK real estate, predominantly within the prime Central London residential arena, but will also operate nationwide.

Mera IM has co-funded multiple loans with Ortus Secured Finance and the companies continue to work in close partnership together.

Founded in late 2019 by ex-Topland financier, Ed Matthews, and backed by private client capital, MERA IM concluded its first loan in 2020 and delivered £30m of new lending in 2022.

The company is targeting ambitious growth for 2023 as it seeks to build up the team with a number of new hires and deploy significant capital into senior and mezzanine loans.