Developer Anthology will build luxury studio, one, two and three bedroom apartments across two towers. They will go on sale priced from £490,000.
Investec and Lloyds have split the £85m investment equally, providing £42.5m each to the development which will have a gross value of £175m.
The site, known as Hoxton Press, is adjacent to Shoreditch Park and within sight of the City. It is one of four schemes lined up by Anthology in the coming years, as the company targets delivering 600 homes a year from 2018.
Mark Bladon at Investec commented: “Given the supply and demand tension in the market, there are significant opportunities for experienced developers, such as Anthology. With this first deal completed successfully, we are excited about future opportunities to work together with Anthology as it builds up its portfolio of well-located schemes across London."
David Clark, director at Anthology Group added: “This was a complex financing transaction, in which Investec and Lloyds Bank worked closely with the business and added value throughout the process. We are delighted to include Investec as a stakeholder and look forward to expanding this relationship in the future.”