First Property Group, the London-listed property company headed by Ben Habib, has launched a lending platform looking to finance and refinance assets up to £200 mln (€232 mln) in value.
The company said its senior loan making platform was targeting up to 65% of loan to value investments, and interest only.
Habib said: ‘Our move into senior secured commercial property lending via this platform is in response to a clear gap in the market created by higher interest rates and a retreat of traditional lenders, including banks.’
He added: ‘’Our loan platform offers borrowers better terms than are typically available and investors in loans made on the platform a high rate of return. For these reasons it is a good time to be entering the market.’