Mint Bridging,
the UK’s fastest growing short term, family run bridging loan company announces
it has entered into a joint venture with Mark Abrahams (ex founder of West One
loans) to establish MB (Syndicates) Limited: MBS.
The new business will run alongside
the existing Mint Bridging operation but focus on: higher value, lower LTV
first charge loans ( £350k-£5mm), low risk development loans, 2nd charge
loans & commercial property, all with a less London centric basis. They
will be funded by experienced investors to the short term property lending
market, on a syndicated basis.
The intention is to grow the loan
book to over £100,000,000 with the emphasis on geographical diversification and
areas of high liquidity. This will, no doubt, accentuate award winning
Mint’s already rapidly scaling business.
The syndication partnership has
been piloted since January 2016 and has already funded several million pounds
of loans to date.
Mark was a co-founder & CEO of
West One Loans Bridging Finance (acquired by ENTERPRISE Finance in 2014 for an
undisclosed amount), and was previously a corporate bond trader with Salomon
Brothers and JP Morgan. Mark has sat on the ASTL executive committee board and
has a wealth of experience. This includes corporate bond trading &
credit derivatives, private equity finance, property investment and (over the
last 8 years), bridging & mezzanine finance.
Mint’s Managing Director, Andrew
Lazare stated, “For five years of building the business, we’re now seeing over 820% growth compared
to prior year same quarters. This recent news announcement has generated
outstanding media coverage, nudging Mint’s brand as a justified rising star. Partnering
with Mark now firmly places Mint Bridging on the map.” He adds, “The
syndication division enables us to increase funding lines, loan sizes and
expand on our already rapidly growing Greater London presence. This opportunity
is a sheer victory of extreme hard work and team dedication.”
“Since West One’s acquisition,
many business opportunities have ventured my way,” Mark Abrahams confirms. “But
what struck me is how fast Mint has grown and Andrew’s passion,
determination and dedication. The company’s track record is astounding, and
this is an ideal time to take Mint to the next stage as an industry power
house.” He continues, “They have strong routes to market and together we have a
solid platform of experienced funders wanting to invest in bridging finance
with an experienced team. This partnership makes absolute sense. Andrew
has created a strong infrastructure, impressive deal flow and has built a
great team; these values greatly attracted me to the company.”
As a result of this agreement,
the company will have the deserved financial weight behind it to continue
its rapid expansion, attract more investors and build the wider Mint family
vision.
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