Assetz Capital completes £3.15m development exit loan

By Bridging Loan Directory 3rd July 2023

Assetz Capital, a leading specialist finance provider, has announced a development exit deal in partnership with Healdan, a prominent property development and construction business based in Bedfordshire.

The deal involves the financing of a barn conversion project, consisting of six homes, in the idyllic location of Millbrook, Bedfordshire.

Under this loan agreement, Assetz Capital has provided Healdan, headed by experienced developer Anne-Marie Lobo, with a loan amount of £3,150,000.

The Development Exit loan has been structured with a loan-to-gross development value (LTGDV) of 65%.

The agreement spans a duration of 12 months, allowing ample time for the completion of the project and subsequent sale of the converted barns.

Healdan, renowned for its expertise in property development and construction, has an exceptional track record in delivering high-quality residential projects.

The company is committed to transforming the former agricultural barns into six luxurious homes, designed to meet the needs of modern homeowners.

Assetz Capital’s decision to collaborate with Healdan stems from its strong belief in the developer’s capabilities and commitment to delivering exceptional results.

“We are delighted to support Healdan and provide funding for the barn conversion project in Millbrook,” said Andrew Fraser, CCO of Assetz Capital.

“This collaboration highlights our commitment to supporting experienced SME housebuilders like Anne-Marie Lobo and enabling them to transform unique properties into highly desirable residences.

We look forward to witnessing the successful completion of this project and the construction of exceptional homes for future residents.”

“We are thrilled to have facilitated the financing for Healdan’s barn conversion project in Millbrook,” said Ricky Humphreys, Relationship Director at Assetz Capital.

“Working closely with experienced borrowers like Anne-Marie Lobo is at the core of our mission, and we are confident in her ability to deliver exceptional homes.”

“We found Assetz Capital highly supportive of the barn conversion project and we received competitive financing terms. We look forward to working with Ricky and the Assetz team on future projects,” said Anne-Marie Lobo.