CapitalRise originations hit 2022 record high in June
CapitalRise has reported its most successful month for loan originations this year, with its chief executive heralding “ever-increasing demand” for development finance in prime London and the Home Counties.
The peer-to-peer lending platform, which specialises in prime property finance, originated £27.3m-worth of loans in June. This included a £2.6m development loan for a Hampstead residential project, a £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.
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“The completion of these and other recent loans in Prime Central London show our commitment to continuing to support small- and medium-sized enterprise developers both in Prime London and the Home Counties,” said Uma Rajah, chief executive and co-founder of CapitalRise.
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“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.”
Rajah revealed to Peer2Peer Finance News last month that CapitalRise had expanded its remit to invest in properties outside prime central London postcodes, now to include the Home Counties.
Between April 2016 and April 2022, CapitalRise has originated £162m in property-backed loans, against properties which have a total value of £572m. £93m has been repaid to investors, with zero defaults or losses.