Real estate investment platform CapitalRise is reporting a record breaking month as July originated almost £50 million in loans (£49.4 million).
At the same time, CapitalRise said that it has now surpassed £400 million in total loan originations.
CapitalRise is a specialist property financing provider that targets prime real estate in London and the surrounding areas. Regulated by the Financial Conduct Authority, smaller investors may participate in the funding earning an average return of 8.3% per annum.
Uma Rajah, CEO and co-Founder, CapitalRise, said that during the past 12 months of volatility they have displayed resilience and flexibility in providing bespoke debt capital to their clients.
“Alternative lenders are playing an instrumental role in the development finance sector, and borrowers know that CapitalRise has the flexible approach, expert team, and robust sources of capital to deliver specialist funding at speed. As the wider macroeconomic environment shows signs of settling, I welcome the coming year where we hope to continue to build on these successes,” said Rajah.
CapitalRise said that nearly 45% of July’s loans were for projects in Prime Central London locations – including Mayfair, Bloomsbury, and two in Chelsea. The company added that a third of the loans were in Prime Outer London areas such as Wimbledon, where the firm closed an £8.2 million Senior Development Loan.
Nearly a quarter of the loans closed in July were in Home Counties locations, such as Ascot, where the firm is financing a 14,600 sq.ft. luxury new-build house.
CapitalRise said the Home Counties represent the fastest-growing segment for its lending.
CapitalRise’s loan book has delivered a 32% annual increase.
The company said that the recent strong performance may show a change in the tide and a new wave of optimism for the market more widely.
