£7m deal backs Apropos management system roll-out
David Alexander: ‘exciting future’
Edinburgh property agent DJ Alexander has received £7 million in bank support to roll-out its Apropos online tenant and landlord management system.
Apropos will be the first UK-wide full service system of scale when the expansion gets under way in January 2020.
The development of the online platform has taken three years to complete and has been fully funded from existing profit. The new funding package from Santander UK enables Apropos to be rolled out over the next three years across the UK.
Established in 1982, DJ Alexander Edinburgh, is the largest independent property letting agency in Scotland with more than 4,000 rental properties under management, principally across Edinburgh and Glasgow.
David Alexander said: “We’re excited about our future and look forward to working closely [with Santander] to continue to grow our business.”
Richard Mathison, structured finance director Santander UK, added: “We have been working with DJ Alexander over the past 10 months to understand their growth plans.”
The finance was provided by Santander’s structured finance growth capital team. The finance is a type of investment provided in order to support SME businesses with growth plans or expand into new products and markets.