£16.1m deal completed to bring forward major city centre residential scheme

Some 122 apartments are set to be built in Leicester after funds advised by Hilltop Credit Partners, a residential-focused real estate investment manager, completed a £16.1m loan to Mitchian Group.

Situated on Jarrom Street, the project will deliver 116 one-bed flats, 1 two-bed flat and 5 studios as well as a small ground-floor commercial unit.  Residents will also have access to internal communal space and a 1,300 sq ft residents’ roof terrace.

Tiger Craft, president, and COO of Hilltop Credit Partners, said: “It is a privilege to work with the Mitchian Group again following the success of our first partnership in Leicester.  They have proven their ability to successfully identify and execute on attractive development opportunities in their local market, and as we continue to invest in the Leicester housing market, we believe this latest development will prove extremely attractive to landlords seeking to capitalize on a record imbalance between rental supply and demand.”

Philip Mitchell of Mitchian Group added: “The Leicester market continues to suffer from an acute shortage of housing stock, and we believe our Jarrom Street development will provide much-needed, affordably priced accommodation to local students and professionals. It was a pleasure to work with Hilltop Credit Partners again for our second loan in Leicester following the successful and recent completion and exit of our development at Northgate Street.  Hilltop are aware of the opportunities within this market and committed to investment into affordably priced housing.”