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Urban Exposure closes first three loans since listing in May

By BFN News | 07:45 AM | Tuesday 03 July, 2018

Specialist residential development finance provider Urban Exposure said it had successfully closed its first three loans since its stock market listing in May. The loans had a total value of £104m, the company said, and covered development projects in Nottingham, Cardiff and Greenwich. Urban Exposure raised £150m for balance sheet lending when it was admitted to AIM on 9 May. The company said it was working on a number of other potential loans, which it expected to close shortly. 'We are pleased to have committed almost 70% of the funds raised at our IPO in May this year and have begun our life as a listed company with positive trading momentum,' chief executive Randeesh Sandhu said. 'In line with our strategy, we continue to review further opportunities to provide finance to residential developers around the UK, utilising our balance sheet lending funds, while continuing to grow our third-party asset management business.' Story provided by

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