Funds advised by Hilltop Credit Partners have completed a £16.1m loan to Mitchian Group for the development of 122 private residential units and a small commercial unit in Leicester.
The development, which is situated on Jarrom Street adjacent to NHS Leicester Royal Infirmary, comprises 116 one-bed flats, one two-bed flat and five studios.
Tiger Craft, president, and COO of Hilltop Credit Partners, said: “It is a privilege to work with the Mitchian Group again following the success of our first partnership in Leicester. They have proven their ability to successfully identify and execute on attractive development opportunities in their local market, and as we continue to invest in the Leicester housing market, we believe this latest development will prove extremely attractive to landlords seeking to capitalise on a record imbalance between rental supply and demand.”
Philip Mitchell, from Mitchian Group, added: “The Leicester market continues to suffer from an acute shortage of housing stock, and we believe our Jarrom Street development will provide much-needed, affordably priced accommodation to local students and professionals. It was a pleasure to work with Hilltop Credit Partners again for our second loan in Leicester following the successful and recent completion and exit of our development at Northgate Street. Hilltop are aware of the opportunities within this market and committed to investment into affordably priced housing.”
