The scheme by Antler Homes will deliver 13 new homes with an expected GDV in excess of £5.5m.
This will include eight semi-detached three-bed homes, one detached home, and four two-bed apartments.
Plot one of the Surrey development
The project forms part of Antler Homes’ target of delivering 300 new homes over the next three years.
Paragon Development Finance is providing the senior debt facility.
The Zenzic Secured Lending (ZSL) facility — which has been agreed for a term of 16 months — provides part of the capital requirement for the development.
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“We are pleased to have had the opportunity to provide this mezzanine financing facility to a developer of the calibre of Antler Homes, which continues to provide high quality, spacious homes in the regions, which are going to increasingly be in demand in the post-Covid world,” said Daryl Thorpe, principal at Zenzic Capital.
“We look forward to becoming a funding partner that can contribute towards its exciting growth plans.”
Andrew Rinaldi, managing director at Antler Homes, commented: “Expanding our sources of capital to help us deliver on our targets for new home delivery is key to our growth plans, and we are delighted to be working with Zenzic on this important development.”
Zenzic Capital was represented by Ranjeev Kumar at Watson Farley & Williams, and Antler was represented by Jacob Robinson of Gateley PLC.