London investment manager provides £12.8m funding for new residential projects

A London investment manager has announced that it has invested £12.8m in two new residential development projects.

Ingenious Real Estate Finance has completed two new loans, which will be used to fund residential development projects in North Devon and the Cotswolds.

The first loan, of £5.3m, will support the construction of 22 apartments in Westward Ho, and has been provided to a joint venture between Indigo Capital Solutions and Blakesley Estates.

The company has also partnered with housebuilder Piper Homes to finance a £7.5m loan for 26 homes in Upper Rissington.

Tom Brown, managing director of real estate at Ingenious, commented: “We’re really pleased to be able to support these two projects in Devon and the Cotswolds.

“This represents the third time we have worked with Piper Homes and we’re delighted to be working with them again on this exciting new development.

“As the economy continues to reopen and recover, we are determined to source, fund and commit to high quality developments across the UK and continue to seek further, similar development opportunities.

“We are cautiously optimistic about the prospects for the real estate sector, particularly the continued demand for residential property, and we remain committed to providing flexible, cost effective financing solutions for our clients.”