Cogress completes £3.29m deal to support Hackney scheme

Cogress has completed a £3.29m mezzanine transaction with Gold Section Developments.

The facility will support the development of a 21-unit residential scheme, Cogress’s third deal with this development partner.

The transaction takes the gross funds deployed by Cogress to £172m across 52 UK projects to date.

Callum Ferguson, head of origination at Cogress, said that this year marked a significant turning point for Cogress.

“We are investing heavily in key strategic areas of the business as we scale up and move beyond the start-up phase.

“On the lending side, we have £70m to deploy to SME developers in 2019 — those with developments between £8m and £80m GDV — as either joint venture equity, traditional mezz or stretch mezz.

“While we will continue to do deals in the Greater London area, we also have a significant pipeline of regional projects, and we intend to step up our activity in these areas over the next 12 months.”

Sign up to our newsletter to receive more news like this story

I accept that by joining the DFT mailing list, I will receive relevant news and promotional material via DFT on behalf of its partners and advertisers. Your data will not be passed on to any third party.
No, thanks, just the news please.

Leave a comment