UK alternative lender Fortwell capital said this week that it has increased funds available for lending from £400 mln to £500 mln (€580 mln) through its partnership with privately held investment firm Cain International (Cain).
The extended credit line will enable Fortwell Capital to increase its lending activity and progress new debt financing strategies in 2021/22, including plans to undertake its first loan outside of the UK.
Since Fortwell Capital first joined forces with Cain in August 2018 with a £400 mln capital arrangement, the lender has powered the delivery of new high-quality residential and commercial space with around £600 mln of funding across 19 loans, including four revolving credit facilities.
Fortwell Capital’s loan repayments over the last 32 months since the partnership began currently stand at £180 mln – 30% of its loan book.
Dan Smith, Chief Executive Officer, Fortwell Capital said: ‘Cain’s continued backing and confidence in our lending strategy since 2018 has propelled Fortwell to new heights. In this next phase, we see a major opportunity to bring new non-Construction loans on board, as well as looking at opportunities in new markets outside of the UK, and possibly new capital partners to fuel the growth of the business. The extended facility with Cain will enable Fortwell to capitalise on some of those new lending opportunities, while continuing to support developers that require finance to progress complex projects across all sectors and UK regions.’
Under the partnership, Fortwell Capital has pursued lending opportunities across Residential, Commercial and Alternative sectors, and has made its biggest impact within Later Living, enabling the construction of 50 new purpose-built Care Homes since 2014, amounting to over 3,500 new UK Care Beds.
