By John Reynolds on Tuesday 22 February 2022
The JV is expected to fund senior and stretched senior loans to finance the development of homes across the UK, along with student accommodation, care homes and other mixed-use assets.
Pollen Street Capital, the alternative investment management firm, has formed a joint venture with real estate lender Beaufort Capital, offering finance for various real-estate developments.
The lending partnership is expected to fund senior and stretched senior loans to finance the development of homes across the UK, along with student accommodation, care homes and other mixed-use assets.
To date, Pollen Street Capital has invested over £1.3bn in senior real estate funding during the past four years through its partnership model with specialist real estate lenders.
Beaufort Capital has financed and developed more than 5,000,000 sq ft of UK real estate over the past 50 plus years.
Paul Norman, co-founder and partner at Beaufort Capital said: “Although we originally provided mainly mezzanine debt and preferred equity to our developer partners, it was always our intention to provide senior and stretched senior debt to better serve our clients’ needs. This is a natural evolution of our business.
“This partnership with Pollen Street further boosts Beaufort’s ability to provide clients with funding solutions across the capital stack, ensuring we can provide whatever capital they require, swiftly and competitively.
“We are looking forward to a long and successful partnership together.”
Howard Garland, partner at Pollen Street said: “Pollen Street Capital’s real estate strategy focuses on bridging and development funding, through our selective partnerships with real estate lending platforms, to a market that is increasingly underserved by mainstream banks.
“Our new partnership with Beaufort fits well with this strategy and our ambition to support the development of much needed new homes in the UK.”