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3 Dec 2018 07:00
Urban Exposure plc (UEX) Lending Update 03-Dec-2018 / 07:00 GMT/BST Dissemination of a Regulatory Announcement that contains inside information according to REGULATION (EU) No 596/2014 (MAR), transmitted by EQS Group. The issuer is solely responsible for the content of this announcement. 3 December 2018 Urban Exposure plc
Lending Update
Urban Exposure plc (the "Company" or "Urban Exposure"), a specialist residential development finance firm and asset manager, today announces an update on its lending activities.
In the period from 31 October 2018 to 30 November 2018, the Company has successfully closed new loans totalling £110 million, bringing total lending commitments since the IPO to c. £340 million. The loans cover development projects across the country, including Chelmsford, Brentwood, Horley and Luton. Since the IPO, the Company has committed to the financing of projects representing the construction of 1,531 residential units, of which 208 are affordable housing units, and 45,000 sq ft of commercial real estate (including office space, retail and a hotel). The return profile of the new loans remains in line with expectations at IPO.
The Company is working on a number of other new loans which it expects to close by year-end.
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Notes to Editors
Urban Exposure plc is a specialist residential development finance and asset management company that has been formed to provide finance for UK real estate development loans. The Company focuses on two main revenue streams: interest and fees generated on principal lending from its own balance sheet; and asset management income generated from managing and servicing real estate development loans financed by third parties. For additional information please visit Urban Exposure's website: www.urbanexposureuk.com and on twitter @UrbanExposureuk , Linkedin: www.linkedin.com/company/urban-exposure/ and Facebook: www.facebook.com/UrbanExposureUK/ |
| ISIN: | GB00BFNSQ303 |
| Category Code: | MSCH |
| TIDM: | UEX |
| LEI Code: | 213800Q7WLHGIHUFBT43 |
| Sequence No.: | 6724 |
| EQS News ID: | 753443 |
| End of Announcement | EQS News Service |
UK Regulatory announcement transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement.
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