UK-based Topland Group, one of Europe's largest privately owned real estate investment groups, said it issued £150 mln (€173 mln) of loans in the first quarter of 2017, putting it on course to reach its target of £400 mln of capital deployment for the full year.
The group's structured finance division issued £75 mln of new loans and joint venture funding focussed on non-residential assets plus some £75 mln of residential lending during Q1.
With an expanding range of alternative lending products – including bridging loans, joint ventures with developers and finance for planning opportunities – Topland’s total loan book now exceeds £500 mln, allocated to UK-wide schemes with a combined gross development value of £900 mln.
The group has seen growing demand for bridging loans during the course of 2017 and an increased emphasis on lending activity on commercial assets, land and mixed-use projects.
Recent deals include a £14 mln stretch senior bridging loan on an industrial park in Wembley, a £24 mln mixed-use development in Knightsbridge, a £25 mln commercial site assembly opportunity on Stratford High Street, a bridging loan on brownfield land in Middlesbrough and two bridging loans against operational student housing schemes in Bradford and Hull.
In addition to growing its order book for bridging loans, the group continues to target joint venture opportunities with commercial and residential developers, strategic land opportunities and is also exploring a number of opportunities in the burgeoning proptech sector.
Sol Zakay, executive chairman and CEO of Topland, said: 'Following a successful 2016, our structured finance division has hit the ground running in 2017 and is beginning to cement its status as a challenger bank. Our ability to understand entrepreneurial business models, add value through development/management expertise and to deploy capital quickly, makes us a credible alternative in an era of conservative lending.'
