Maslow provides £74m loan for Essex BTR scheme

Maslow Capital has provided a £74m development loan to fund a build-to-rent scheme in Basildon, Essex. The scheme will be delivered by a joint venture between Orwell Real Estate and Housing Growth Partnership, comprising 492 homes, 13,000 sq ft of shared residential amenities and 18,000 sq ft of commercial space. The development, which forms part of Basildon’s £600m regeneration masterplan, will comprise three interconnected mid-rise towers ranging from 12 to 17 storeys, connected via a ground-floor podium. It comprises a mix of one- and two-bedroom flats, and will include five outdoor terraces, a gym, and co-working areas. The project which had £12m of equity injected by HPG, has been forward-sold to Starlight Investments. The £74m loan was successfully delivered after Karis Capital partnered with Maslow Capital to bring the deal to fruition. Orwell Real Estate has been a longstanding client of Karis Capital. Craig Scott, managing director at Karis Capital said: “Facilitating the capital for a landmark project like this exemplifies Karis Capital’s commitment to supporting high-impact developments brought forward by experienced sponsors and backed by a funding partner with a leading reputation. We’re proud to support this transformative project, fully confident that it will address Basildon’s urgent housing needs while setting a strong precedent for future regeneration efforts.” Emma Burke, head of origination at Maslow Capital, added: “This is an exciting opportunity in a thriving build-to-rent market, and we are proud to collaborate with like-minded partners who share our vision for the UK and Europe’s housing supply.”