The Association of Short Term Lenders (ASTL) has been joined by mezzanine and bridging global finance provider Reditum Capital.
Reditum Capital was incorporated in 2013, and after various ventures in commercial and residential property, has arranged more than £350m of funding for real estate and asset-backed transactions.
It lends up to 70% of gross development value for mezzanine deals. In addition, it now lends up to 80% LTV for bridging loans from £600,000 to £20m for commercial and residential acquisitions, refinancing and development projects.
Tim Mycock, business development director at Reditum Capital, said: “We are a global lender and many within the company began their careers as investors or hands-on developers. This means we know all too well the sting that can come with lenders that fail to put the needs of each investor first. That is why being a part of the ASTL is a well valued attribute that we are proud to show our clients.
“With the ASTL now part of our brand identity, our customers and potential clients can know they are dealing with a short term lender that is steadfast to honesty, integrity and impartiality. The ASTL cements our commitment to deals with no hidden fees, protecting our customers against fraud and our dedication to transparency in lending.”
Benson Hersch, CEO of the ASTL, added: “The team at Reditum Capital are industry professionals who are well informed about the bridging and mezzanine finance sectors. Its extensive network of contacts, market expertise and its real estate experience as principals should benefit other members of the ASTL. With its experience and knowledge, Reditum Capital is another welcome addition to the ever growing and ever-diversifying membership of the ASTL.
“The demand to become a member of the ASTL is not only a clear reflection of the growing role that bridging is playing in today’s market. It also allows the association to continue representing responsible bridging lenders while raising the standards of the bridging industry.”
