Nexus Residential has secured almost £20m to help finish its prominent Baltic Triangle apartment scheme in Liverpool.
The company has received £19.5m from Maslow Capital, a provider of real estate development finance, for its One Baltic Square development.
The project will see the creation of 296 apartments on the edge of the city’s Baltic Triangle.
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The centerpiece of the project will be a square comprising a stunning outdoor space for the use of residents that is being styled around a typical Italian piazza, delivered at a cost of £1m.
Nexus Residential acquired One Baltic Square in March 2021, with completion of the first blocks expected by the end of 2022.
The company has partnered with Legacie Contracts, the construction arm of Legacie Developments, to complete the scheme.
Maslow Capital has backed other major developments in Liverpool such as Stanley Docks and the first phase of the Parliament Square scheme.
Michael Gledhill, managing director of Nexus Residential, said: "We are delighted to have agreed this development facility with Maslow Capital.
"One Baltic Square is our standout residential development in Liverpool and will bring much needed high-quality homes to an increasingly popular part of the city.
"It has been a pleasure to work with Maslow and their professional origination team in completing the funding of this project.
"Maslow is a prestigious name and having them support this project and city is a significant vote of confidence. We are looking forward to completing this development and welcoming our first residents later this year."
Sky Mapson, who is responsible for deal origination at Maslow Capital, added: "Nexus Residential is a highly experienced property developer with a proven track record of delivering high quality schemes across Liverpool.
"We are delighted to be able to support their exciting new One Baltic Square development which will be coming to Liverpool’s trendy Baltic Triangle area."
Rachael Gordon, head of deal execution at Maslow Capital, said: "It has been a pleasure working with Nexus Residential on the funding of this scheme as they move forward with their plans to deliver an exemplary scheme in an area which is undergoing significant regeneration.
"We are pleased to support the local supply of housing with a further 296 high-quality units and we look forward to working alongside Nexus Residential as the project progresses."
