Mario Ioannides

Pluto Finance completes £13m development exit bridging deal




Pluto Finance has closed a £13m development exit bridging loan for Signia in Wembley, London.

The facility will offer the developer time to sell the available residential units for the Wembley mixed-use scheme, and will provide an equity release to fund new acquisitions.

The development scheme, located close to the stadium and both Wembley Park and Wembley Central stations, comprises 55 private residential units, along with two ground floor commercial units.

Mario Ioannides, associate partner at Pluto Finance (pictured above), said: “At Pluto, we recognise that we should stand strong with our repeat borrowers now more than ever as we strive to be lender of first choice both in the good times as well as the more challenging times.

“These types of lending relationships and our ability to do our bit for the UK economy by continuing to transact makes me very proud of my team.”

Dhiraj Dabasia of Signia said that the developer was delighted to have worked with Pluto Finance for the second time and to have secured the facility.

“The flexible loan structure enables us to pursue opportunities for new site acquisitions while welcoming residents to our Wembley development,” he added.

“Being a part of significant and ongoing regeneration of the surrounding area, residents benefit from an abundance of facilities on their doorstep.”

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