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Maslow Capital completes first deal since Dragonfly acquisition

by: Mortgage Solutions
  • 27/10/2011
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Maslow Capital completes first deal since Dragonfly acquisition
Specialist mezzanine lender, Maslow Capital has completed its first deal since Dragonfly Property Finance bought it last month.

The deal, introduced by brokerage Commercial 1, was on a detached house in Sevenoaks with a gross development value of £1.8m. Maslow provided top up funding to Commercial 1’s client to help purchase the land.

Craig Scott, director of Commercial 1, said: “During deals things often don’t go to plan with the financial dynamics changing at various stages. This is exactly what happened with the Sevenoaks development but Maslow promptly stepped in and provided the additional funds required by our client to purchase the site.”

Ellis Sher, director, Maslow Capital, added: “We were approached by Commercial 1 to fund an existing scheme at a crucial stage in the development cycle.

“It is never easy to enter a deal during a development but we were provided with accurate and detailed information that quickly allowed us to get comfortable with the risks and offer the required funds.”

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