Alternative property lender Zorin Finance secures £200 million funding line

By Daniel Lanyon on Tuesday 22 September 2020

Alternative Lending

Specialist property lender Zorin Finance, which launched in 2011, has lent over £650 million and now has a new funding partnership with Avenue Capital.

Alternative property lender Zorin Finance secures £200 million funding line
Image source: Zorin Finance

Alternative property lender Zorin Finance has signed an agreement with Avenue Capital Group, a global investment firm, to fund up to £200 million worth of property development and investment loans for the UK SME housebuilding market. 

Zorin Finance, which launched in 2011 has lent over £650 million and is now funded by two institutional investors, with Avenue being granted exclusivity to fund up to 80 per cent of future deal flow.  

Founder & CEO Luke Townsend and Sir John Beckwith and his family will also continue to personally fund a percentage of every loan the company makes, the firm said in a media statement. 

Avenue Capital a global investment firm, also invested in Dublin-based real estate lender CastleHaven Finance last year. It manages a c.$9.6bn of assets. 

“Whilst the near-term economic outlook is uncertain, demand for development finance remains buoyant as SME housebuilders look to satisfy continued demand for new housing. We believe opportunities will present themselves as the fallout from the pandemic starts to hit the balance sheets of high street banks and less well capitalised alternative lenders,” Townsend said. 

 

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