Pluto Finance provides £27.5 million development finance loan for a Build-to-Rent development in the Midlands

By Bridging Loan Directory 15th January 2025

Pluto Finance, a leading property finance provider, is delighted to announce the successful completion of a £27.5 million senior loan for a prime Build-to-Rent (BTR) scheme located in the Midlands.

This transaction marks the largest Pluto deal to date in the region, led by Evan Griffin, Lending Director for Wales, Midlands and the North.

The development is being delivered by a leading international real estate investment manager, with the legal aspects of the transaction handled by Forsters LLP, represented by Rowena Marshall and Helen Bravery.

Advisory support was also provided by Savills, represented by Sophie Jackson and Rebecca Humes and Dalbergia MS, represented by Lois Taylor.

This complex transaction showcases Pluto Finance’s ability to navigate a unique lending structure including financing through an offshore based entity.

Such a structure underscores the challenges involved and Pluto’s expertise in creating bespoke funding solutions for international clients.

Evan Griffin, Lending Director at Pluto Finance commented:

“Our largest deal to date in the region reinforces Pluto’s commitment to supporting high-quality developments in key growth areas.

We are thrilled to partner with this new to Pluto borrower on this landmark project, leveraging our expertise in complex lending structures to deliver tailored solutions.

We look forward to further supporting both new and existing clients locally.”

This BTR development is set to deliver much-needed, high-quality housing, as demand for residential rental units continues to grow.

Pluto Finance remains focused on providing flexible funding solutions to drive the delivery of essential housing nationwide.