Urban Exposure hails 'strong pipeline' after seven new loans agreed

Urban Exposure, the residential development finance and asset management company, has closed seven new development project loans in the past three months.

The new loans agreed between 3 July and 17 October have brought the total number of new homes the company has financed to nearly one thousand since its initial public offering in May, taking the company's total lending commitments since its initial public offering to approximately £230m.

The projects financed by the company since listing include the construction of 975 private residential homes, 86 affordable housing units and 45,000 square feet of commercial real estate.

Randeesh Sandhu, chief executive of Urban Exposure, said: "We have a strong pipeline of opportunities to provide finance to high quality residential developers for mainstream housing projects across the UK and look ahead with confidence in continuing to deliver on our strategy to efficiently utilise our balance sheet lending funds, while growing our third-party asset management business."

Further loans and asset management strategies are expected to be closed shortly.

Urban Exposure’s shares were unchanged at 108.50p at 0829 BST.