Maslow completes first deal since acquisition
The deal was on a detached house in Sevenoaks with a gross development value of £1.8m introduced by London-based commercial mortgage broker Commercial 1.
Commercial 1 approached Maslow Capital halfway through the transaction when it became clear that the client was running short of capital to purchase the land. Maslow provided the top-up funding.
Jonathan Samuels, chief executive officer of Dragonfly Property Finance, said: “It’s great to have got out of the blocks so soon after the acquisition.
“With many other deals in the pipeline, it’s shaping up to be an encouraging first year for Maslow Capital under the Dragonfly umbrella.”
Craig Scott, director at Commercial 1, added: “During deals things often don’t go to plan, with the financial dynamics changing at various stages.
“This is exactly what happened with the Sevenoaks development but Maslow promptly stepped in and provided the additional funds required by our client to purchase the site.”