The facility will be used by Blue Shield to fund new real estate bridging loans across residential, commercial, retail, industrial, light refurbishment, bridge-to-let, and land.
Last year (2023) The Wyn Group became the major shareholder in Blue Shield, enabling the lender to grow its portfolio.
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Gil Ulrich, co-founder and CEO at Blue Shield, commented: “With their [OakNorth’s] financial backing, we’ll be able to fund new real estate bridging loans at speed, while providing the necessary flexibility to meet our customers’ financial demands.”
Mohith Sondhi, senior director of debt finance at OakNorth, added: “Given the breadth of areas Blue Shield covers — from residential, commercial, retail, and industrial, to light refurbishment, bridge-to-let, and land — its growth potential is significant.
“With backing from OakNorth, it has the financial firepower to go after even more bridging loan opportunities and support even more customers.”
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