Investment firm KKR and Urban Exposure, a U.K. residential development finance provider, have launched a joint venture to focus on financing mainstream housing throughout the United Kingdom, with an initial size of £165 million ($216 million).
The joint venture will leverage Urban Exposure’s expertise in originating, executing and managing development loans in the residential market, focusing on the significant opportunity in mainstream housing throughout the United Kingdom. The joint venture will draw on this deep local market knowledge, which, combined with KKR’s significant financial and operational expertise, will help drive continued growth and scale of the loan portfolio and build its position as a leading development finance provider.
The joint venture will take advantage of the attractive fundamentals of development finance, while meeting a clear need for housing development in the context of increasing mainstream housing supply in the United Kingdom.
“The scale of the venture means we can offer further significant support to SME developers as they seek funding for mainstream housing projects across the United Kingdom,” said Randeesh Sandhu, chief executive of Urban Exposure. “We believe the venture will demonstrate our ability to deliver shareholder value by combining our experience with KKR’s significant financial and operational expertise.”
Investment firm KKR and Urban Exposure, a U.K. residential development finance provider, have launched a joint venture to focus on financing mainstream housing throughout the United Kingdom, with an initial size of £165 million ($216 million).
The joint venture will leverage Urban Exposure’s expertise in originating, executing and managing development loans in the residential market, focusing on the significant opportunity in mainstream housing throughout the United Kingdom. The joint venture will draw on this deep local market knowledge, which, combined with KKR’s significant financial and operational expertise, will help drive continued growth and scale of the loan portfolio and build its position as a leading development finance provider.
The joint venture will take advantage of the attractive fundamentals of development finance, while meeting a clear need for housing development in the context of increasing mainstream housing supply in the United Kingdom.
“The scale of the venture means we can offer further significant support to SME developers as they seek funding for mainstream housing projects across the United Kingdom,” said Randeesh Sandhu, chief executive of Urban Exposure. “We believe the venture will demonstrate our ability to deliver shareholder value by combining our experience with KKR’s significant financial and operational expertise.”
