Pollen Street Capital and Downing have agreed a partnership to provide finance for SME residential developers.
Pollen Street Capital has acquired around £30m of Downing’s loan book and will provide additional funding for new residential development and bridging deals.
Downing focuses on SMEs and has £470m in AUM and Pollen Street Capital specialises in senior debt through its partnership model.
The pair are the latest example of alternative lenders targeting small developers, following Zorin Finances’ expansion backed by Avenue Capital Group and a £100m debt fund from Frontier Development Capital last month.
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