jShojin was presented the opportunity to invest in a mezzanine loan for a 250-unit residential scheme based in Salford, Greater Manchester. The borrower has over 50-years of real estate development experience in the North West of England. They are also the main  contractor on the scheme. As of June 2024, the Developer has pre-sold 76% of the total units, with sales deposits of £8.80m contributing to the £14.22m equity they have in the scheme. Construction began in August 2023, and is on schedule. The enabling works, piling and substructure have all been completed with work currently underway on the reinforced concrete (RC) frame; concrete pours are complete up to level 5. With the scheme substantially de-risked through construction progress and pre-sales, the Borrower is now organising both senior and junior finance on the scheme until completion. Shojin will provide a mezzanine facility of £4.20m in addition to the senior loan.