The five-year facility marks the first deal completed between both parties.

The apartments, which are located to the rear of the client’s main church in London, reached practical completion in March 2025 after the proposal for the development was sanctioned in 2022.

Following completion, the investment loan deal between STB and the Norwegian Church was agreed in April 2025.

The investment portfolio includes five one-bed, five two-bed, and one three-bed apartments which are now occupied.

The development itself is a four-storey mixed-use building, with the apartments across the upper three floors, while the ground floor and part of the first floor are dedicated commercial space that is leased to the Norwegian Church for ancillary use.

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The deal was led by Michael Chakli, relationship director at STB Real Estate Finance, while Bob Bratland, co-founder of Danehurst Developments, acted on behalf of the Norwegian Church.

Bob said: “We have been very impressed with the team at STB with whom we have developed an excellent working relationship, and whose efforts ensured that this transaction was completed without any issues.

“It is the second transaction I have done with STB and its service and expertise is second to none.

“Thanks to the team’s hard work, we were able to complete the deal within the necessary timeframe and now look forward to welcoming tenants to their new homes.”

Michael added: “It was a real pleasure to have played a crucial role in refinancing the 11 contemporary apartments at St Olav’s.

“This sort of property finance is one of our specialties, so we were keen to be involved with this.

“Following the completion of this project, we hope to continue developing a strong relationship with Bob and the team in the future.”