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Dragonfly passes £2bn lending benchmark

  • 17/06/2016
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Dragonfly passes £2bn lending benchmark
Short and medium-term lender Dragonfly Property Finance has advanced more than £2bn of loans since its 2009 launch, as it eyes further expansion.

The lender, which offers commercial and residential bridging and development finance, has completed more than 3,700 transactions for both domestic and international investors to date.

The second billion was achieved between July 2014 and June 2016, half the time it took to pass the first billion of lending, according to the lender.

Dragonfly has grown its team to 40 employees, having hired two new business development managers last month, and intends to continue this expansion.

Mark Posniak (pictured), managing director of Dragonfly, said: “Our team is growing fast and is now a perfect balance of old hands and young blood that wants to make its mark – our product range is also considerably broader than it was in the early days.”

Recent notable loans completed by Dragonfly, part of the Octopus group, include the £40m development of a 15-unit apartment scheme in Bayswater and the £7m funding of a 160-bed student scheme in Coventry.

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