Iron Bridge Finance has launched a dedicated property development arm, marking an expansion beyond its established role as a provider of mezzanine and equity finance.
The new division has begun construction on a 44-home scheme in Islington, London, valued at £40m. The project is the first announced development under the new business line.
Since 2014, Iron Bridge Finance has supplied more than £330m of mezzanine and equity funding. Its move into development places the firm in a more direct role in delivering residential projects while retaining its financing background.
The company is now seeking further development opportunities across London and the South-East, according to Property Wire.
