Funds advised by Hilltop Credit Partners have completed a £16.8m loan to Purple Pepper Homes for the development of a residential scheme in Hastings.
The 103 one-, two- and three-bed units will be delivered across three blocks on a site in the town centre adjacent to Station Plaza.
Pierre Lombaard, managing director of Purple Pepper Partnership, said: “It was a pleasure working with the Hilltop team on this transaction. Hilltop’s focus on the UK residential development market meant that they were able to underwrite and fund the project in an efficient manner, and we look forward to continuing our relationship throughout the lifecycle of this development and on future Purple Pepper development projects. The Hastings market is in dire need of new, affordably priced housing in both the sales and the rental market, and we look forward to delivering these units beginning in early 2025.”
Jacob Andersen, head of transactions at Hilltop Credit Partners, added: “We are excited to be funding the Purple Pepper team to delivery this well-conceived development in Hastings, which we believe will be positively received by the local market. The Purple Pepper team has proven their ability to delivery affordably priced, high-quality housing across the South East of England. We look forward to completing this development together as well as working on future projects together.”
