£25m funding package for PRS owner manager
Register for free to receive latest news stories direct to your inboxRegister
Private rented sector (PRS) owner manager G2M Group has secured a £25m finance facility from Paragon Bank to support its ambitious growth targets.
The funding from Paragon’s Structured Lending arm will enable the firm to accelerate its property acquisition strategy, improving and expanding the supply of privately rented homes available to renters across the country.
The Doncaster-headquartered business was founded in 2012 and is rapidly scaling a large demographically and geographically diversified rental portfolio.
Operating through its customer brand, habodel, the ethos of the group is focused on large volume regeneration of existing UK property stock, with a specific focus on energy improvement.
G2M CEO, Paul Morton, said: “As a group, our focus on energy efficiency directly addresses the UK’s carbon emission and fuel poverty issues.
“The warehouse facility from Paragon will provide an accelerant to the equity in our business, significantly increasing both the number of homes we can regenerate as well as increasing the positive environmental and social impact we are delivering.”
Tony Williams, a director in Paragon Structured Lending, added: “We’re pleased to be able to support G2M with its expansion plans with this funding package. This is a business delivering tangible benefits to people’s lives, providing good quality, safe and secure homes.
“If you entered a G2M rented home in the South East or in the North East it would have the same look, feel and high standard of finish. Their approach is raising the bar in the private rental sector.”