CapitalRise has reportedly acquired another funding line, which the firm states should allow it to take on a larger number of projects based in London as well as Home Counties.
The UK-based prime property lender noted that the agreement has been made with a prominent investment manager and may be channeled towards pre-funding prime real estate loans.
CapitalRise‘s management said that they currently have several pre-funding facilities like this which allow them increase the overall speed at which they may transact with their borrowers. As the firm continues to grow, they will focus on bigger loan sizes, CapitalRise revealed in a blog post. They added that this provides them with more capacity to support their growth.
As explained in the update, the partnership should further allow the team to move efficiently when handling lending applications.
During the past few years, CapitalRise has acquired several institutional funding lines in order to scale its operations.
Back in 2019, the firm revealed that it had committed to a £30 million deal with a large financial institution and the firm’s most recent financial results confirmed that it acquired a £72 million funding line with another established institution.
In June of this year, CapitalRise “provided loans for several projects in Prime Outer London and the Prime Home Counties.”
These included “a £2.6m development loan for a Hampstead residential project, and £9.1m senior bridging loan for a property in St. Georges Hill, Surrey, and a £15.6m loan for the development of five luxury homes on a 27-acre gated site in Farnham, Surrey.”
Each of the loans “required the provision of individual structuring to provide bespoke facilities that corresponded with the key requirements of the Borrowers.”
A key USP of CapitalRise is “its deep expertise of prime property development through the full purchase and development cycle, which allows it to think differently to its competitors and provide attractive funding solutions for its customers.”
Uma Rajah, CEO, and co-founder, CapitalRise said:
“The completion of these and other recent loans in Prime Central London show our commitment to continuing to support SME developers both in Prime London and the Home counties. We continue to grow our team to service the ever-increasing demand we are seeing for development finance in our chosen markets and are supporting our clients through the provision of ever innovative loan structures. We have increased the depth of our funding lines in order to maintain the rapid growth of the business and we are excited about the opportunities ahead of us.”