Maslow Capital loans €77m to Torsion Developments for BTR project

Real estate financier Maslow Capital has loaned £65 mln (€77 mln) to Torsion Developments for the construction of Flax Place, a large Build to Rent (BTR) project in Leeds, UK.

Flax Place

This development, pre-sold to Starlight Investments, will transform a vacant brownfield site into 300 high-quality apartments.
The Day Architecture-designed Flax Place consists of two uniquely designed 9 and 14-story towers connected by a shared base. Offering high-end amenities such as communal lounges, co-working spaces, secure bike storage, and on-site leisure facilities, the project began construction in Q4 2024 and remains on schedule, with the core structures already finished and an expected completion date of April 2027.
It will address the growing demand for rental housing in Leeds, a market still significantly underserved compared to other major UK cities like Manchester and Birmingham.
Emma Burke, managing director, Development Financeat Maslow Capital, said: “We are delighted to partner once again with Torsion Developments, whose delivery capability continues to impress. Flax Place will play a vital role in narrowing Leeds’ acute housing shortfall while offering residents best-in-class amenities. Maslow Capital remains committed to providing the flexible capital that drives quality housing where it is needed most.”
David Worsley, COO at Torsion Group commented: “Having a lender that consistently champions both Torsion Developments and the wider Northern economy – while bringing deep expertise across the UK and European real estate landscape – gives us the confidence to deliver forward-thinking schemes such as Flax Place, bringing premium, institutionally backed rental homes to one of the country’s most dynamic regional cities.”
Nick Swerner, director at GLPG, said: “Acting on behalf of the borrower, our priority was to secure a funding partner capable of combining experience, certainty, commercialism, and sector expertise. Maslow Capital delivered on all of these – and reliability in particular is paramount when sourcing debt for clients. Their agile approach and proven track record in supporting a broad range of living sector assets has given Torsion Developments the confidence and flexibility required to deliver Flax Place on programme.”
This deal represents the third partnership between Maslow Capital and Torsion Developments in Leeds, following a £57 mln (€68 mln) loan for a similar nearby BTR project and a £54.4 mln loan (€64.8 mln) for a residential development with CityLife. 
GLPG provided financial advice to Torsion Developments throughout the financing process.