Ellis Sher

Maslow Capital starts new lending for primary ground-up developments

Maslow Capital has announced it is now actively seeking to fund primary ground-up developments.

The development lender stated that it had used the lockdown as a necessary period to asses the market and ensure its origination efforts were focused on the “right opportunities”.

The news follows the launch of Maslow’s debut loan book liquidity fund in May, which aims to work with existing development finance providers and borrowers to acquire portfolios of loans, provide cost to complete facilities, and refinance existing loans.

In June, DFT published a filmed interview with Maslow’s co-founder and CEO, Ellis Sher (pictured above), who explained what sorts of development funding models will be tested most in the current Covid-19 climate.

The lender — which has long-dated institutional capital — said that notwithstanding the difficulties of the post Covid-19 landscape, it is committed to the future of delivering housing across the UK and has assigned “substantial capital” to both primary and secondary lending activities going forward.

“We remain focused on core asset classes, staying true to our longstanding experience of funding residential and PBSA developments, while diligently sticking to the key lending fundamentals that have helped steer our credit decisions over the past decade,” explained Ellis.

“As the country begins to reopen, we look forward to playing our role in delivering much needed funding to the UK’s SME housebuilders.”

Its lending capabilities start at £5m and, although it can lend significantly more than that, its average loan stands at £15m.

“We fund small, large, straightforward, and complex loans,” said Matt Pigram, head of deal origination at Maslow.

“Unlike the banks, we are able to avoid some of the regulatory and credit-rating pressures, allowing us to be very flexible when it comes to loan size, scheme and borrower concentration exposures.

“We are witnessing our experienced developers adapting exceptionally well to the pandemic with new high-quality schemes that deliver core housing at accessible price points. 

“Maslow are really well placed to support them now as we have always strived to in the past.”

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