Development lender Iron Bridge Finance saw a record month for completions in October 2019.
In total, the mezzanine specialist completed five deals supporting schemes with a combined GDV of over £50m. The locations ranged from Bristol to London and from the West Midlands to the South Coast.
Lance Joseph, CEO at Iron Bridge, said: “The gap behind senior debt is one we are delighted to fill, and by working in partnership with both senior lenders and developers, Iron Bridge is providing what is essentially alternative cheap equity. I am immensely proud of the team and the hard work they have put in to achieve this milestone.
“In challenging times, we will continue to provide flexible solutions for developers and senior lenders alike and look forward to doing so into 2020 and beyond.”
The Iron Bridge team has been investing its own funds since 2006 in mezzanine and top-up finance on multi-unit residential development projects and lends in amounts from £300,000 to £7,000,000 in areas of high demand across England and Wales.