UK debt specialist Laxfield Capital has announced the upsizing of its real estate debt fund by £250 mln to £750 mln (€840 mln) after fully deploying its original allocation in loans secured on office, student accommodation, logistics, hotel, serviced apartment and specialist retail assets.
The fund was originally sized at £500 mln when it was launched in January 2018 and seeded with £250 mln of existing loans previously written by Laxfield.
Laxfield provides whole loans at up to 75% LTV against income-producing and transitionary assets across almost all sectors in the UK for durations of 1-7 years.
Transactions completed this year have ranged in size from £7 to £80 mln, and the fund has capacity to write up to £100 mln per loan.
'Appetite for our product has been strong and we are delighted to be working with some excellent borrowers who appreciate our pragmatic approach and swift execution capabilities,' said Alexandra Lanni, director of Laxfield.
She added: 'Along with the additional £250 mln of new capital, we have the ability to recycle funds when loans are repaid, so we have excellent capacity for new business going into Q4 and the start of 2019.'
